I don't think I'll be able to explain this easily without hinting at a bunch of things that I have not yet talked about, so I'll link two good introductions instead:
Volatility as an Asset Class - Why Selling Volatility Should Matter to Investors
The main attractiveness of these strategies that they're both in the positive sum game category, and they have pretty much zero correlation to traditional asset classes (stocks, bonds, etc).
But, don't invest into something that you do not understand.
Funds
Disclaimer: they can blow up, if something doesn't go as planned.