When it does, I'm looking to set up "laddered" short call verts from 45 DTE to several months out, operating on the assumption that we will not see 110 again soon. Unfortunately, FXE is not particularly forgiving with expiries. For example, the 45 DTE Sept monthly is currently available, but after that, it is basically quarterly options (Dec, Jan, March, etc.).
Ordinarily, for a laddered set up, I want to set up three consecutive monthly expiry trades with strikes at approximately the same POP %-age or at the 1 SD for each of the expiries (you'll see that, in the ordinary case, you will get the same approximate amount of credit for each "rung" of your short vert spread when you do things this way).
With FXE , I will have to set up two rungs in the ladder (e.g., September and December) and then fill in the "middle rungs" (October and November) when those particular expiries become available.