Unpacking the Latest Options Trading Trends in Atlassian

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 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 80% bullish and 10%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $66,838, and 8 are calls, for a total amount of $947,221.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $136.0 to $200.0 for Atlassian over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $136.0 to $200.0 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.

After a thorough review of the options trading surrounding Atlassian, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Atlassian Standing Right Now?

• With a trading volume of 1,231,194, the price of TEAM is up by 0.12%, reaching $176.78.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 0 days from now.

What Analysts Are Saying About Atlassian

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $218.66666666666666.

• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Atlassian, targeting a price of $225.
• An analyst from Capital One has elevated its stance to Overweight, setting a new price target at $211.
• Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Atlassian, targeting a price of $220.

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.