Rolling our TSLA put contract to a higher strike price.

TSLA has rallied to a key level of resistance from earlier in the year. This would be a natural place for the stock to reverse and start trading lower again.

Rolling our put contract lets us buy more intrinsic value at a discount, and sets us up for better profits when TSLA trades lower. Plus, having a bearish position for TSLA helps to balance our exposure with plenty of bullish positions in play.