Stuck between clubs at the par-5 ninth -- his final hole -- Lutterus made a gutsy decision that ended with an eagle and a two-shot lead.
'I was right between 9- and 8-iron, but I was pretty pumped up and my caddie Nick and I figured, 'Smash a 9' and it went to about 10 feet,' said Lutterus, a third-year pro who missed the cut last year.
'I thought I left [the putt] about a foot short and it just went in -- so it was perfect.'
Lutterus, a 21-year-old native of South Australia, also had six birdies to match the course record of 64 at his home track, Kooyonga Golf Club. He is one of more than 70 players from the Australasian PGA playing in the second Nationwide Tour event of the season.
Fellow Australian Brett Rumford shot a 6-under 66 and is tied for second place with Brad Ott and Chris Nallen of the United States.
The early clubhouse leaders before Lutterus' finish, Rumford and Ott had seven birdies and one bogey apiece. Nallen posted four birdies and an eagle in a bogey-free round.
Seven other Australians -- Peter Wilson, Greg Chalmers, Anthony Brown, Ben Bunny, Steven Jeffress, Andrew Pitt and Anthony Painter -- are among 10 players who share fifth place at 5-under 67.
The others are Americans Joe Daley and Mike Capone and Bermuda's Michael Sims.
Further down, veteran Ben Bates might have to wait another week to surpass Steve Haskins for the most cuts made in Nationwide Tour history. Sitting on 192 cuts, the 45-year-old Bates opened with a 3-over 75 and was tied for 130th place.