Currently, FDX's 52 week IVR is at 54 (IV 34), which isn't stellar , but it's at 92 for the past six months. Moreover, there is pretty good credit to be had whether you go short strangle or iron condor, so I imagine I'll play that one way or another if the IV sticks in there.
ORCL ( IVR 75/IV 35) isn't looking all that hot, frankly, because I can't get 1.00 in credit with either a short strangle or iron condor (a Dec 24 34.5/39.5 short strangle will only get you a .61 credit at the mid price right now, which isn't anything to go crazy over; a same expiry iron condor just isn't worth it). Nevertheless, we could see a greater pop toward that makes it a little bit more worthwhile such that I'll play just because there isn't that much else worthwhile to do ... .
(Of course, there is that all FOMC thing next week, too).