Straddle

Buying a call and put at the same strike to profit from a big move either way.

A straddle buys a call and a put at the same strike and expiration, profiting if the underlying moves sharply in either direction. It is a bet on volatility rather than direction. The trade loses if the price stays near the strike, since both options decay toward zero.

Expecting a wild move but unsure of direction, she bought a straddle ahead of the verdict.