$CLO I have an idea. Unsure whether it will go up or down, so I open both long and short positions.

Currently, it's consolidating; I open a long position at a low level and a short position at a high level. The entry points for longs and shorts are spaced slightly apart.
The best-case scenario is that it first rises, reaching the top and triggering the long positions, then drops sharply, allowing the short positions to profit as well.
Even if it falls, because the entry points for longs and shorts are slightly different, it won't be a wasted effort, and I can take profits with a floating gain.