Check Out What Whales Are Doing With TEAM

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 this is an institution or just a wealthy individual, 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 15 options trades for Atlassian.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.

Out of all of the options we uncovered, 14 are puts, for a total amount of $1,080,576, and there was 1 call, for a total amount of $95,149.

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 $170.0 and $260.0 for Atlassian, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Atlassian stands at 531.0, with a total volume reaching 2,129.00. 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 $170.0 to $260.0, throughout the last 30 days.

Atlassian Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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

• Currently trading with a volume of 545,698, the TEAM's price is down by -0.44%, now at $225.17.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 34 days.

Expert Opinions on Atlassian

1 market experts have recently issued ratings for this stock, with a consensus target price of $255.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Stephens & Co. downgraded its action to Equal-Weight with a price target of $255.

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.