Stephen maintains a $$250,000$ brokerage account composed of cash and equity positions. As earnings season approaches, he has observed an increase in sales data for TGT $($Target$)$ and anticipates a significant price movement following the company's earnings release. He has also noted a decline in the University of Michigan Consumer Sentiment Index and believes this may impact the guidance provided by Target's management team. However, Stephen cannot confidently predict whether the stock will rise or fall after the earnings announcement.

TGT is currently trading at $$75$ per share, and Stephen does not currently hold, nor does he plan to hold, the stock.

Draw and describe an options strategy Stephen could implement to profit from the expected volatility surrounding the earnings announcement.