Whales with a lot of money to spend have taken a noticeably bearish stance on Atlassian.
Looking at options history for Atlassian TEAM we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $497,640 and 4, calls, for a total amount of $149,727.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $200.0 for Atlassian, spanning the last three months.
Insights into Volume & Open Interest
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 $100.0 to $200.0 over the preceding 30 days.
Atlassian Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TEAM | PUT | SWEEP | BEARISH | 05/17/24 | $5.4 | $5.3 | $5.3 | $180.00 | $214.1K | 1.1K | 1.1K |
| TEAM | PUT | SWEEP | BEARISH | 05/17/24 | $5.2 | $5.0 | $5.2 | $180.00 | $148.7K | 1.1K | 614 |
| TEAM | CALL | SWEEP | NEUTRAL | 01/17/25 | $112.1 | $109.0 | $110.6 | $100.00 | $55.2K | 14 | 5 |
| TEAM | PUT | SWEEP | BEARISH | 05/17/24 | $5.3 | $4.9 | $5.3 | $180.00 | $47.7K | 1.1K | 708 |
| TEAM | CALL | TRADE | NEUTRAL | 05/17/24 | $18.4 | $18.0 | $18.2 | $200.00 | $36.4K | 280 | 39 |
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.
After a thorough review of the options trading surrounding Atlassian, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Atlassian
- Trading volume stands at 673,270, with TEAM's price up by 0.99%, positioned at $200.51.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 16 days.
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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