Just aquired a new reel

and looking to load the spools with line.
I intend to use this reel for fishing with my Waggler rod.
I will load 1 spool with Maxima Chameleon 5lb for my normal waggler fishing (sinking line).
The other spool not sure of what to use, need a line for the up in the water fishing (pellet wag) do you use a floating line?
Any advice chaps