This Is What Whales Are Betting On Atlassian

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 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 9 options trades for Atlassian.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.

Out of all of the options we uncovered, 8 are puts, for a total amount of $347,799, and there was 1 call, for a total amount of $32,000.

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 $180.0 and $240.0 for Atlassian, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $180.0 to $240.0 in the last 30 days.

Atlassian 30-Day Option Volume & Interest Snapshot

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.

In light of the recent options history for Atlassian, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Atlassian

• With a volume of 1,238,728, the price of TEAM is up 0.47% at $216.05.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 86 days.

What Analysts Are Saying About Atlassian

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $257.0.

• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Atlassian, targeting a price of $280.
• An analyst from Truist Securities has decided to maintain their Hold rating on Atlassian, which currently sits at a price target of $220.
• Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Atlassian with a target price of $250.
• Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Atlassian with a target price of $250.
• An analyst from Wells Fargo persists with their Overweight rating on Atlassian, maintaining a target price of $285.

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.