Options trading strategy for small wins on swings

Hey team, I'm fairly new to options but I've had a bit of success with a strategy in the last couple of weeks

I'm finding fairly volatile stocks that are overbought & well above 50ma and buying puts, then finding stocks that are overbought & well below 50ma and buying calls, then selling when the option is worth +30% what I paid for it

Is there a name for this strategy? As if so I'd love to read up on what the pitfalls are and what tips other people might have!