In recent days, Tesla (TSLA) has hovered in the $275-$280 mark to set new all-time highs. I don’t believe there’s been a single catalyst behind the move outside of a general surge in the market generally, with the US equities markets setting new highs several times per week.If one were to believe that Tesla is overpriced or will fail to meet its lofty sales goals, I would recommend options rather than shorting the stock. Short interest in the stock is high at around 38%. The higher the demand to short the stock, the higher the shorting costs.If one wanted to bet on a 10% or greater fall in the stock on more of a long-run timeframe, one could buy January 2018 250 puts for around $30.65 at the time of this writing. With 100 shares per contract, that comes to $3,065. This is around 11% of the cost of Tesla shares, which is quite expensive, but simply comes with the territory given the characteristics of the stock trading patterns, where more volatile stocks will have more expensive option contracts.If the stock fails to trade below 250, the option expires worthless. If the option expires in-the-money, then that gives the option holder the right (but not the obligation) to buy those shares at the strike price and either hold them or sell them on the market.However, in order to recoup the initial $3,065 in premium initially paid, the stock must move down enough below the 250 strike in order to break even. In this case, including commissions, the breakeven point – at expiry – must come to around $219.30.==(Source: optionsprofitcalculator.com)==Hence, the stock would need to drop a little more than 20% for this to be profitable.The benefit is that the downside is capped at the initial price of $3,065. Maximum return would be the breakeven price multiplied by the number of shares per contract – so $21,930. Therefore, if Tesla were to be a zero within the next eleven months (very unlikely obviously), the potential upside is a money-on-money multiple of 7.2x.So there is a little bit of downside, but a lot of upside. One also has to remember that TSLA was trading around the $180 per share mark back in early December.So it’s not entirely implausible that the stock will continue to make big moves.