Atlassian Unusual 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 14 uncommon options trades for Atlassian.

This isn't normal.

The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $133,262, and 10 are calls, for a total amount of $429,912.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $250.0 for Atlassian, spanning the last three months.

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 $155.0 to $250.0 over the preceding 30 days.

Atlassian Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Atlassian, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Atlassian Standing Right Now?

• With a trading volume of 551,053, the price of TEAM is up by 1.03%, reaching $224.21.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 48 days from now.

Expert Opinions on Atlassian

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $185.0.

• Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $185.

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.