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 positions 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.
Today, Benzinga's options scanner spotted 19 options trades for Atlassian.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $47,500, and 18, calls, for a total amount of $2,599,061.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $280.0 for Atlassian, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Atlassian's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Atlassian's significant trades, within a strike price range of $135.0 to $280.0, over the past month.
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 | CALL | SWEEP | BEARISH | 04/19/24 | $230.00 | $977.8K | 66 | 464 |
| TEAM | CALL | SWEEP | BEARISH | 04/19/24 | $230.00 | $458.8K | 66 | 519 |
| TEAM | CALL | SWEEP | BEARISH | 04/19/24 | $230.00 | $356.8K | 66 | 722 |
| TEAM | CALL | TRADE | BULLISH | 06/21/24 | $220.00 | $227.5K | 40 | 72 |
| TEAM | CALL | SWEEP | BEARISH | 12/15/23 | $187.50 | $70.0K | 165 | 0 |
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 trading volume of 1,776,269, the price of TEAM is up by 1.75%, reaching $218.91.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 49 days from now.
Expert Opinions on Atlassian
In the last month, 1 experts released ratings on this stock with an average target price of $185.0.
- Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $185.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Atlassian with Benzinga Pro for real-time 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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