Rolling our ZM put contract to a higher strike price.

SHOP has bounced a bit from when we initially bought our put contracts. But the speculative video conferencing stock still looks extremely vulnerable — especially if the broad market sells off.

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