Derivatives strategists at JPMorgan view GoPro's (GPRO) upcoming product launches as a high-impact stock moving event and recommend investors load up on volatilityLate in July, GoPro said its newest action camera and its Karma drone are on track for a launch later this year.More than a fifth of GPRO's outstanding shares are sold short and StarMine Short Squeeze Indicator rank of 93 suggests stock ripe for reaction (100 = most likely to have a short squeeze)The high level of skepticism could accentuate any upside move in the stock if the Hero5 or Karma product launches are impressive, JPM analyst Bram Kaplan says in a noteJPM recommends investors buy October strangles - an options strategy that bets on volatilityGPRO 30-day ATM implied volatility is in the 14th percentile of its 52-week range, making buying options on it relatively cheap, per Trade Alert dataLooks like a good idea, I am in.