This is a very good example of when to do a strangle. The market is about to choose which direction to go in soon. You have NFP tomorrow, earnings
in 2 weeks, and a rate hike decision coming up. This is the perfect cocktail to take advantage of a big move. LB
is down 11.7% today and could potentially continue down further. I have no idea which way LB
will go, but I expect to make a profit on my 75 strike call 70 strike put strangle setup. I bought this setup 45 days to expiry and only paid a net debit of 4.00. You should see a nice move soon.