A Closer Look at Atlassian's Options Market Dynamics

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 8 extraordinary options activities for Atlassian. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 50% bearish. Among these notable options, 4 are puts, totaling $144,411, and 4 are calls, amounting to $145,781.

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Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $260.0 for Atlassian during the past quarter.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Atlassian stands at 387.0, with a total volume reaching 2,441.00. 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 $200.0 to $260.0, throughout the last 30 days.

Atlassian 30-Day Option Volume & Interest Snapshot

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.

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.

Where Is Atlassian Standing Right Now?

• With a volume of 1,312,954, the price of TEAM is down -2.8% at $211.88.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 24 days.

What The Experts Say On Atlassian

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $295.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Equal-Weight, setting a price target of $255. * An analyst from Jefferies has decided to maintain their Buy rating on Atlassian, which currently sits at a price target of $330. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Atlassian with a target price of $300.

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.