What Specific Options Strategy Might a Trader Employ to Profit from the Expected Volatility around a Network Transition?

A trader expecting high volatility but uncertain of the direction might employ a 'long straddle' or 'long strangle' options strategy. This involves simultaneously buying a Call and a Put option with the same expiration date.

The trader profits if the underlying asset's price moves significantly in either direction, covering the cost of both premiums, capitalizing on the event risk.