Nearly 50% of its small float is short and they have a major FDA announcement on its cancer drug in March. Obviously, this stock should be extremely volatile when the announcement is made. I'm very inexperienced with options, but I figure there has to be some way to make money off this volatility. I'd like to simultaneously buy both calls and puts to make money off the volatility. For example, I was looking at buying the $15 April calls as well as the $7.5 April puts. Does this make sense or is there a better way to make money off the expected volatility?