With Tsla being a rocket to the moon, it has worked out to be a great trade. I have been doing long put calendar's or long call calendar's. Basically selling volatility and time premium. There are definitely risks still with the trade, but it helps manage the aspects out side of price movement.
For those that don't trade options much, there are 3 things that usually effect the price of it. Time, Volatility, and Price, time being how long the option is, volatility being how much the stock moves in a day and up coming events, and price is the current price of the asset based on your option's strike price.
Yesterday I pulled the trigger and closed out a long calendar put in a retirement account. I had about 7k at risk, and held it for one night. Cashed out a 250 dollar winner in a day. I was planning on holding it longer, but when profit is there why not take it. Other wise weird things can happen and it goes away. Will be keeping a eye on it and waiting for the next possible entry. I will probably only be looking to go short, as the upside to Tesla is so small, since I believe we are in the bubble of bubbles.