Options Outlook on LUNA After Market Volatility

Seeing $LUNA at $1.23, trading in a tight range of $1.23-$1.24 for a while now, makes me wonder if volatility is about to compress. If I were to play options, I'd probably look for an iron condor or butterfly to capture premium from the stability. But be careful, if any news pushes it out of the $1.23 or $1.24 range, our plan could easily fall apart, especially on the downside. If it breaks below $1.23, it wouldn't be good for short vega positions. We have to accept that anything can happen in a market like this. Anyone wanting to play needs a clear cut-loss point.