Behind the Scenes of Atlassian's Latest Options Trends

Investors with significant funds have taken a bullish position in Atlassian TEAM, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in TEAM usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 11 options transactions for Atlassian. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 36% being bullish and 18% bearish. Of all the options we discovered, 10 are puts, valued at $370,160, and there was a single call, worth $30,900.

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Predicted Price Range

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 $240.0 for Atlassian during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Atlassian options trades today is 341.2 with a total volume of 599.00.

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 $160.0 to $240.0 over the last 30 days.

Atlassian Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Atlassian's Current Market Status

• With a volume of 1,033,307, the price of TEAM is up 0.6% at $187.72.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 23 days.

What The Experts Say On Atlassian

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $275.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Equal-Weight with a new price target of $255. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Atlassian with a target price of $300. * Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Atlassian, targeting a price of $262. * An analyst from Jefferies has decided to maintain their Buy rating on Atlassian, which currently sits at a price target of $330. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Atlassian, targeting a price of $230.

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.