Deep-pocketed investors have adopted a bearish approach towards Atlassian TEAM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TEAM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Atlassian. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 69% bearish. Among these notable options, 6 are puts, totaling $282,868, and 7 are calls, amounting to $382,459.
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 $145.0 and $440.0 for Atlassian, spanning the last three months.
Volume & Open Interest Development
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 $145.0 to $440.0 in the last 30 days.
Atlassian Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TEAM | CALL | TRADE | BEARISH | 04/19/24 | $250.00 | $108.2K | 748 | 5 |
| TEAM | PUT | TRADE | BEARISH | 06/21/24 | $340.00 | $100.9K | 0 | 0 |
| TEAM | CALL | TRADE | NEUTRAL | 01/19/24 | $145.00 | $95.6K | 59 | 0 |
| TEAM | PUT | SWEEP | BULLISH | 01/19/24 | $440.00 | $59.1K | 0 | 0 |
| TEAM | CALL | TRADE | BEARISH | 03/15/24 | $210.00 | $41.5K | 386 | 13 |
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.
Following our analysis of the options activities associated with Atlassian, we pivot to a closer look at the company's own performance.
Atlassian's Current Market Status
- With a volume of 675,861, the price of TEAM is up 1.27% at $240.62.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 42 days.
What The Experts Say On Atlassian
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $185.0.
- An analyst from Scotiabank downgraded its action to Sector Perform with a 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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