Spotlight on Atlassian: Analyzing the Surge in Options Activity

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 12 uncommon options trades for Atlassian.

This isn't normal.

The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $692,980, and 8 are calls, for a total amount of $355,111.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $200.0 for Atlassian over the recent three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Atlassian's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Atlassian's significant trades, within a strike price range of $135.0 to $200.0, over the past month.

Atlassian Option Volume And Open Interest Over Last 30 Days

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

• Trading volume stands at 963,920, with TEAM's price up by 5.74%, positioned at $185.09.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 79 days.

Expert Opinions on Atlassian

2 market experts have recently issued ratings for this stock, with a consensus target price of $180.0.

• An analyst from Truist Securities persists with their Hold rating on Atlassian, maintaining a target price of $180.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Atlassian with a target price of $180.

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.