Body Waterproof dry fly dubbing, tan-orange (an October caddis shade) (one tapered body)
Rib The tying thread's own tag end (one strand)
Under-wing CDC, bulk puffs (several feathers tip to tip)
Indicator wing EP Trigger Point fibres, orange (one doubled bunch)
Wing Deer hair, stacked (one bunch)
How to tie it
Mount a size 12 Fulling Mill dry fly hook, start 6/0 thread and run it back to the bend. Do not cut the tag end. It becomes the rib.
Dub a waterproof dry fly dubbing in a tan-orange shade and wrap the body forward, stopping well short of the eye. Leave yourself plenty of room for the wing materials.
Rib the body forward with that thread tag. Josh has been using the tag as a rib on a lot of his flies because it gives a natural, not-too-flashy segmentation.
Select CDC puffs and line them up tip to tip. Good CDC shows tiny micro-barbules on each barb under a close look, and those are what hold air and water and make the feather float.
Stroke the fibres forward, measure the under-wing a little longer than the shank, and tie it in.
Take a pinch of the same dubbing and wrap it in at the tie-in point to hide the thread and keep the underside of the fly clean.
Double over a bunch of orange EP Trigger Point fibres and tie them in as the visible wing. Trigger Point is soft, comes in plenty of colours, and the orange is what lets you track this fly in low light or fast water.
Make a small dubbing dam in front of it.
Cut a bunch of deer hair, pull out the underfur and stack it. Measure it about the same length as the CDC underneath.
Tie the deer hair in with a graduated grip: the first wrap loose, the second a little tighter, the third tighter again. The hair flares out nicely as you go.
Trim the deer hair butts off square. You can spin a deer hair head here instead, but Josh skips it as too slow.
Trim the Trigger Point wing slightly longer than the other materials, whip finish and trim the thread.