Here, I'm looking for the basic 1/3rd the width of the spread for a fill price (i.e., 1/3rd of 3 = 1 or $100). I'm setting it up as a GTC order that will expire some time next week. I'll then have another look at the , see if they've changed and tweak my spread accordingly.
If it gets filled at some point, I'll look to manage it at 50% max profit or $50/contract. As always, these short plays are a "money, take, run" proposition.