Financial giants have made a conspicuous bearish move on Atlassian. Our analysis of options history for Atlassian TEAM revealed 17 unusual trades.
Delving into the details, we found 29% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $168,470, and 12 were calls, valued at $644,460.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $160.0 to $210.0 for Atlassian during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Atlassian stands at 252.64, with a total volume reaching 3,336.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Atlassian, situated within the strike price corridor from $160.0 to $210.0, throughout the last 30 days.
Atlassian Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TEAM | CALL | SWEEP | BEARISH | 06/21/24 | $11.1 | $9.8 | $9.8 | $185.00 | $122.5K | 24 | 0 |
| TEAM | CALL | SWEEP | BEARISH | 05/03/24 | $2.0 | $1.8 | $1.8 | $185.00 | $90.0K | 563 | 939 |
| TEAM | CALL | SWEEP | BULLISH | 05/03/24 | $4.9 | $4.7 | $4.9 | $177.50 | $72.5K | 85 | 345 |
| TEAM | CALL | SWEEP | NEUTRAL | 09/20/24 | $18.1 | $17.7 | $17.85 | $185.00 | $67.9K | 14 | 101 |
| TEAM | CALL | SWEEP | BEARISH | 05/03/24 | $4.8 | $4.7 | $4.7 | $177.50 | $65.3K | 85 | 49 |
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.
Following our analysis of the options activities associated with Atlassian, we pivot to a closer look at the company's own performance.
Current Position of Atlassian
- With a volume of 1,115,203, the price of TEAM is up 0.86% at $180.99.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 94 days.
Professional Analyst Ratings for Atlassian
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $235.0.
- An analyst from Barclays upgraded its action to Overweight with a price target of $275.
- An analyst from Oppenheimer persists with their Outperform rating on Atlassian, maintaining a target price of $250.
- An analyst from Truist Securities persists with their Hold rating on Atlassian, maintaining a target price of $200.
- An analyst from TD Cowen persists with their Hold rating on Atlassian, maintaining a target price of $210.
- An analyst from Mizuho has decided to maintain their Buy rating on Atlassian, which currently sits at a price target of $240.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Atlassian, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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