Possibly insane idea: Long LEAP Strangle

Okay, hear me out. Find a stock (let's say AAPL) or ETF (let's say TQQQ) with a good history of volatility. Wait for the IV to drop and (in a perfect world) have the stock price somewhere near its mean.

Then buy a LEAP Strangle, let's say one year. The stock breaks in one direction or the other and you profit on one of the wings. You sell that wing, leaving you with the losing wing. However, because you have time and a volatile stock, you could still see the price reverse and head toward the remaining wing for a profit. But worst case, you did profit on one wing, and the volatility mitigated your loss on the other.

Thoughts?