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 positions 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.
Today, Benzinga's options scanner spotted 23 options trades for Atlassian.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 43%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $32,220, and 22, calls, for a total amount of $1,106,644.
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 $155.0 and $210.0 for Atlassian, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Atlassian stands at 147.83, with a total volume reaching 8,380.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Atlassian, situated within the strike price corridor from $155.0 to $210.0, throughout the last 30 days.
Atlassian 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TEAM | CALL | SWEEP | BULLISH | 09/20/24 | $15.1 | $14.8 | $15.1 | $190.00 | $86.0K | 140 | 708 |
| TEAM | CALL | SWEEP | BEARISH | 09/20/24 | $15.1 | $15.0 | $15.1 | $190.00 | $81.5K | 140 | 376 |
| TEAM | CALL | SWEEP | BEARISH | 09/20/24 | $14.9 | $14.7 | $14.8 | $190.00 | $78.4K | 140 | 528 |
| TEAM | CALL | SWEEP | BULLISH | 09/20/24 | $15.2 | $15.0 | $15.2 | $190.00 | $77.5K | 140 | 765 |
| TEAM | CALL | SWEEP | BEARISH | 09/20/24 | $15.1 | $14.9 | $14.9 | $190.00 | $65.5K | 140 | 218 |
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
Present Market Standing of Atlassian
- Currently trading with a volume of 464,873, the TEAM's price is up by 2.56%, now at $186.93.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 27 days.
What The Experts Say On Atlassian
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $237.5.
- In a positive move, an analyst from Piper Sandler has upgraded their rating to Overweight and adjusted the price target to $225.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Atlassian with a target price of $250.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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