Bullish Outlook & Low Volatility

The Setup
Sell 1 OTM Put in the Front Month; Buy 1 OTM Put in the Back Month at a Lower Strike Price for a net debit.
Timeline
The front-month option should be at least 20 days and not more than 45 days.
Volatility
Since I am a seller of this option I will only enter the trade when IV is below 50%. Rising IV will help this trade as inversely declining IV will hurt the trade.
Time Decay/Theta
Time decay works in my favor as long as the stock stays in its range.
Risk Management
This trade should be less than 1% of my account.
Profit Target
If my position shows a profit near 25-50% of the max potential gain, I will close the position early to lock in profits.
Break-Even Point(s)
This varies depending on the strike price and volatility.