For Luck to play this year he would have to clear waivers, which would never happen. It is safe to assume there is close to a zero percent chance of Luck playing in the NFL this season.
Given the fact that Luck’s father, Oliver Luck is the CEO of Vince McMahon’s upstart XFL, Mike Florio wrote an article about the possibility of Luck playing in the XFL. The idea is far-fetched even though the 10-game season would be less taxing on Luck’s body.
However, for Luck to play in another league, he would have to receive permission from the Colts since he’s still under contract. Another very unlikely thing to happen.