Someone with a lot of money to spend has taken a bearish stance on Atlassian 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.
So how do we know what this whale 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 20% bullish and 80%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $128,800, and 8 are calls, for a total amount of $420,600.
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 $115.0 to $290.0 for Atlassian over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $115.0 to $290.0 in the last 30 days.
Atlassian Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TEAM | CALL | TRADE | BEARISH | 06/21/24 | $200.00 | $86.3K | 6 | 20 |
| TEAM | PUT | TRADE | BEARISH | 01/17/25 | $115.00 | $86.0K | 19 | 100 |
| TEAM | CALL | SWEEP | BEARISH | 06/21/24 | $200.00 | $86.0K | 6 | 20 |
| TEAM | CALL | TRADE | NEUTRAL | 09/15/23 | $170.00 | $72.0K | 547 | 20 |
| TEAM | CALL | TRADE | NEUTRAL | 01/19/24 | $160.00 | $53.3K | 64 | 10 |
Where Is Atlassian Standing Right Now?
- With a volume of 395,645, the price of TEAM is up 0.1% at $204.27.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 62 days.
What The Experts Say On Atlassian:
- Morgan Stanley downgraded its action to Overweight with a price target of $185
- BMO Capital has decided to maintain their Market Perform rating on Atlassian, which currently sits at a price target of $220.
- Barclays has decided to maintain their Equal-Weight rating on Atlassian, which currently sits at a price target of $195.
- Oppenheimer has decided to maintain their Outperform rating on Atlassian, which currently sits at a price target of $235.
- 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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