It's not that simple. The IV will crush both if there is no significant movement on either side. This is an option strategy called "Strangle" https://www.fidelity.com/learning-center/investment-products/options/options-strategy-guide/long-strangle

Today if you had puts for NVDA, you would have lost out… I am still new to this

What your referring to is called a Straddle. It can be a good strategy if you believe that a stock will move drastically but are unsure of the direction. The downside to this type of play is mainly two things 1. THETA- The stock does not move as much as you thought it would. Option prices decay over time, if there is not enough movement to cover theta decay then both call and put contracts could expire worthless. 2. Implied Volatility- IV% represents how much a stock is anticipated to move and also effects the cost per contract. Higher IV indicates that a big move is anticipated, if you bought a contract then the IV% drops significantly you get IV Crushed. Essentially the contract loses value when IV goes down Look up the Greeks and how they work, thank me later

Reading up on this and thinking this is a good strategy it's not enough. You need to paper it and visualize it for yourself. I can tell you right off the bat that this is the least profitable trading strategy in all fronts. If it were this easy to become profitable, we would all do it. Best of luck 🤞

I’ve made money both ways before by straddling and closing each leg separately. I opened a call and when it started to go against me I opened a put. The call went down as the put went up. I was lucky and closed the put when it started turning around, so I profit on the put, closed it then ended up profiting on the call a bit later. With that said I’ve tried to recreate this and failed. Same goes with averaging down. Sometime it works, but if it doesn’t you’ve lost big