Looking At Atlassian's Recent Unusual Options Activity

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 trades 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.

So how do we know what these investors 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 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $403,173, and 4 are calls, for a total amount of $156,392.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $210.0 to $280.0 for Atlassian over the recent three months.

Analyzing Volume & Open Interest

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 $210.0 to $280.0 in the last 30 days.

Atlassian Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

In light of the recent options history for Atlassian, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Atlassian

• Currently trading with a volume of 701,551, the TEAM's price is up by 1.21%, now at $252.8.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 0 days.

What Analysts Are Saying About Atlassian

In the last month, 5 experts released ratings on this stock with an average target price of $260.0.

• An analyst from Truist Securities has decided to maintain their Hold rating on Atlassian, which currently sits at a price target of $220.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Atlassian with a target price of $280.
• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Atlassian, targeting a price of $265.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Atlassian, which currently sits at a price target of $285.
• Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Atlassian, targeting a price of $250.

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.