XLU have a 86% IV Percentile, which means that 86% of the days over the past year the Implied Volatity was below this level.
Custom Put Ratio's Buy +1 NOV 48 PUT Sell-2 NOV 47 PUT BUY +1 NOV 46 PUT SELL-2 NOV 45 PUT
This will give us a max profit of $171 with a 77% chance of making money. And we only lose if the price goes below $44.64. Since we are adding risk to have better probabilities, if we get assign we would have to buy 200 shares, but it would be 5% below of where we are right now, and since we already have had a 12% down move we can expect a correction soon and we would be able to sell even more premium if we need to.