Check Out What Whales Are Doing With TEAM

Someone with a lot of money to spend has taken a bearish stance on Atlassian Corporation TEAM.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with TEAM, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 22 options trades for Atlassian Corporation.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 59%, bearish.

Out of all of the options we uncovered, 21 are puts, for a total amount of $978,472, and there was 1 call, for a total amount of $36,520.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $410.0 for Atlassian Corporation over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Atlassian Corporation options trades today is 214.5 with a total volume of 2,253.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Atlassian Corporation's big money trades within a strike price range of $300.0 to $410.0 over the last 30 days.

Atlassian Corporation Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Atlassian Corporation Standing Right Now?

• With a volume of 469,952, the price of TEAM is up 0.04% at $314.33.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 79 days.

What The Experts Say On Atlassian Corporation:

• Cowen & Co. has decided to maintain their Market Perform rating on Atlassian Corporation, which currently sits at a price target of $325.
• Cowen & Co. has decided to maintain their Market Perform rating on Atlassian Corporation, which currently sits at a price target of $330.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.