OPENING: LULU DEC 16TH 49/52/64/67 IRON CONDOR... for a .92 credit. Truth be told, I chased a bit. It announces earnings tomorrow after market close, but just wanted to get into play, since there isn't much premium out there to be sold, and I won't have time to putz with it tomorrow.
Here are the mid price metrics:
Probability of Profit: 61%
Max Profit: $94
Max Loss/Buying Power Effect: $206
Break Evens: 51.06/64.94
I'll look to manage this at 50% max profit on the post-earnings volatility contraction.