Investors with a lot of money to spend have taken a bullish 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 8 options trades for Atlassian.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $69,540, and 7, calls, for a total amount of $484,770.
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 $180.0 to $240.0 for Atlassian during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Atlassian's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Atlassian's substantial trades, within a strike price spectrum from $180.0 to $240.0 over the preceding 30 days.
Atlassian Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TEAM | CALL | SWEEP | NEUTRAL | 01/16/26 | $200.00 | $150.0K | 32 | 25 |
| TEAM | CALL | SWEEP | BEARISH | 04/19/24 | $220.00 | $81.4K | 253 | 338 |
| TEAM | CALL | TRADE | BULLISH | 04/19/24 | $220.00 | $73.4K | 253 | 220 |
| TEAM | PUT | TRADE | BULLISH | 03/15/24 | $220.00 | $69.5K | 272 | 42 |
| TEAM | CALL | SWEEP | BULLISH | 09/20/24 | $240.00 | $63.0K | 80 | 54 |
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.
Following our analysis of the options activities associated with Atlassian, we pivot to a closer look at the company's own performance.
Where Is Atlassian Standing Right Now?
- Trading volume stands at 627,414, with TEAM's price down by -0.19%, positioned at $204.06.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 66 days.
What The Experts Say On Atlassian
In the last month, 2 experts released ratings on this stock with an average target price of $232.5.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on Atlassian, which currently sits at a price target of $215.
- An analyst from UBS persists with their Neutral rating on Atlassian, maintaining a target price of $250.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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