27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Deep-pocketed investors have adopted a bearish approach towards Atlassian (NASDAQ:TEAM), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TEAM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Atlassian. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 70% bearish. Among these notable options, 6 are puts, totaling $214,501, and 4 are calls, amounting to $132,860.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $180.0 to $240.0 for Atlassian over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Atlassian options trades today is 213.25 with a total volume of 1,699.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Atlassian's big money trades within a strike price range of $180.0 to $240.0 over the last 30 days.
Atlassian Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TEAM | PUT | SWEEP | BEARISH | 04/19/24 | $1.8 | $1.65 | $1.8 | $185.00 | $50.5K | 341 | 371 |
| TEAM | PUT | TRADE | BULLISH | 04/26/24 | $12.0 | $10.6 | $11.0 | $195.00 | $39.6K | 55 | 37 |
| TEAM | CALL | TRADE | BEARISH | 04/26/24 | $3.9 | $3.6 | $3.6 | $225.00 | $36.0K | 143 | 101 |
| TEAM | PUT | SWEEP | BEARISH | 05/17/24 | $7.5 | $7.3 | $7.5 | $180.00 | $35.2K | 566 | 118 |
| TEAM | CALL | SWEEP | BULLISH | 06/21/24 | $17.3 | $17.0 | $17.3 | $200.00 | $34.6K | 198 | 32 |
About Atlassian
Atlassian produces software that helps teams work together more efficiently and effectively. The company provides project planning and management software, collaboration tools, and IT help desk solutions. The company operates in four segments: subscriptions (term licenses and cloud agreements), maintenance (annual maintenance contracts that provide support and periodic updates and are generally attached to perpetual license sales), perpetual license (upfront sale for indefinite usage of the software), and other (training, strategic consulting, and revenue from the Atlassian Marketplace app store). Atlassian was founded in 2002 and is headquartered in Sydney.
In light of the recent options history for Atlassian, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Atlassian
- With a trading volume of 745,991, the price of TEAM is down by 0.0%, reaching $196.02.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 22 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Atlassian options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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