Unpacking the Latest Options Trading Trends in Atlassian
Investors with a lot of money to spend have taken a bullish stance on Atlassian (NASDAQ: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 21 options trades for Atlassian.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 28%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,260, and 20, calls, for a total amount of $1,185,667.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $170.0 to $220.0 for Atlassian over the last 3 months.
Volume & Open Interest Development
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 $170.0 to $220.0 over the preceding 30 days.
Atlassian Call and Put Volume: 30-Day Overview
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 | TRADE | BEARISH | 09/20/24 | $7.7 | $7.4 | $7.3 | $190.00 | $505.8K | 2.4K | 1.5K |
| TEAM | CALL | TRADE | BEARISH | 01/17/25 | $13.5 | $13.2 | $13.2 | $200.00 | $66.0K | 583 | 4 |
| TEAM | CALL | SWEEP | BEARISH | 09/20/24 | $9.5 | $9.3 | $9.5 | $190.00 | $56.4K | 2.4K | 352 |
| TEAM | CALL | SWEEP | BULLISH | 09/20/24 | $9.9 | $9.8 | $9.8 | $190.00 | $45.0K | 2.4K | 84 |
| TEAM | CALL | SWEEP | BEARISH | 09/20/24 | $10.1 | $9.6 | $9.6 | $190.00 | $43.2K | 2.4K | 307 |
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 1,104,674, the TEAM's price is down by -1.98%, now at $174.45.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 22 days.
What Analysts Are Saying About Atlassian
In the last month, 2 experts released ratings on this stock with an average target price of $237.5.
- An analyst from Wells Fargo persists with their Overweight rating on Atlassian, maintaining a target price of $250.
- An analyst from Piper Sandler upgraded its action to Overweight with a price target of $225.
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.