Spotlight on Atlassian: Analyzing the Surge in 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 9 uncommon options trades for Atlassian.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 33%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $260,451, and 3 are calls, for a total amount of $338,544.

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 $185.0 to $290.0 for Atlassian during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Atlassian stands at 386.86, with a total volume reaching 323.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Atlassian, situated within the strike price corridor from $185.0 to $290.0, throughout the last 30 days.

Atlassian Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Present Market Standing of Atlassian

• Trading volume stands at 885,172, with TEAM's price up by 2.15%, positioned at $195.66.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 3 days.

What The Experts Say On Atlassian

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $260.0.

• Showing optimism, an analyst from Barclays upgrades its rating to Overweight with a revised price target of $275.
• An analyst from Citigroup has decided to maintain their Buy rating on Atlassian, which currently sits at a price target of $265.
• An analyst from Mizuho has decided to maintain their Buy rating on Atlassian, which currently sits at a price target of $240.

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.