Strategy - BUY STRADDLE (details below)
Call option and put option are bought with the same strike price a - usually at-the-money.
Unlimited Breakeven Point at Expiry
Lower point is the strike minus the two premiums paid, and the upper is the strike plus the two premiums.
Limited to the two premiums paid. [If the investor would like to decrease the premium paid, a buy strangle might be interesting]
Position loses value with passage of time as time value decreases on options.