Well, it may be time to revisit an old friend -- the MID Index. It's been awhile since we played the MID, but it looks like a reasonable opportunity.
So, with the MID at 755, let's:
Sell 20 November MID 690 puts - MIZWR
Buy 20 November MID 680 puts - MIZWP
Credit of about $.75
Total net credit is $.75 ($1,500). We have a 65 point cushion and our short strike is well below support. Maintenance is 20,000.
I'm still not comfortable with putting on a bear call spread to complete an Iron Condor. I'll keep a lookout for something appropriate.
Take care and trade smart!!