Looking At Atlassian's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Atlassian TEAM.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with TEAM, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Atlassian.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $455,884, and 2 are calls, for a total amount of $58,060.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $145.0 to $220.0 for Atlassian over the recent three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Atlassian's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Atlassian's whale trades within a strike price range from $145.0 to $220.0 in the last 30 days.

Atlassian Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
TEAM PUT SWEEP BULLISH 03/15/24 $200.00 $130.5K 908 543
TEAM PUT SWEEP BEARISH 04/19/24 $175.00 $84.0K 566 25
TEAM PUT SWEEP BEARISH 04/19/24 $175.00 $81.6K 566 505
TEAM PUT SWEEP BULLISH 01/17/25 $145.00 $44.7K 547 43
TEAM PUT SWEEP BULLISH 03/15/24 $200.00 $33.8K 908 369

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.

After a thorough review of the options trading surrounding Atlassian, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Atlassian's Current Market Status

  • Currently trading with a volume of 793,450, the TEAM's price is down by -1.25%, now at $205.0.
  • RSI readings suggest the stock is currently may be approaching oversold.
  • Anticipated earnings release is in 58 days.

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.

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Posted In: OptionsMarketsBZI-UOA
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