I think this story's nfic, though not 100% sure. I can recall Lois as Wanda. Luthor visits her at the nightclub where she works. I'm recalling a scene in her dressing room and that's about all. I do know he has some kind of hold on her.
I moved this topic to fanfic-related, SQD. As it happens, I also know which story you're looking for: this is Yvonne Connell's Fear of Discovery Part 3. It has both a PG and an nfic version - and it's an excellent story!