A whale with a lot of money to spend has taken a noticeably bearish stance on Atlassian Corporation.
Looking at options history for Atlassian Corporation (NASDAQ:TEAM) we detected 26 strange 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 69% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $428,299 and 15, calls, for a total amount of $790,324.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $350.0 for Atlassian Corporation over the last 3 months.
Volume & Open Interest Development
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 Corporation'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 Corporation's whale activity within a strike price range from $120.0 to $350.0 in the last 30 days.
Atlassian Corporation Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TEAM | CALL | TRADE | NEUTRAL | 08/12/22 | $245.00 | $90.3K | 324 | 105 |
| TEAM | CALL | TRADE | NEUTRAL | 08/12/22 | $245.00 | $90.3K | 324 | 69 |
| TEAM | CALL | SWEEP | BULLISH | 01/20/23 | $300.00 | $89.9K | 673 | 30 |
| TEAM | CALL | SWEEP | BEARISH | 09/09/22 | $290.00 | $74.8K | 16 | 40 |
| TEAM | CALL | TRADE | NEUTRAL | 08/19/22 | $260.00 | $65.6K | 222 | 21 |
Where Is Atlassian Corporation Standing Right Now?
- With a volume of 1,609,493, the price of TEAM is up 3.21% at $287.82.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 78 days.
What The Experts Say On Atlassian Corporation:
- Piper Sandler has decided to maintain their Overweight rating on Atlassian Corporation, which currently sits at a price target of $249.
- Piper Sandler has decided to maintain their Overweight rating on Atlassian Corporation, which currently sits at a price target of $283.
- Citigroup has decided to maintain their Buy rating on Atlassian Corporation, which currently sits at a price target of $375.
- Bernstein downgraded its action to Outperform with a price target of $257
- Truist Securities has decided to maintain their Hold rating on Atlassian Corporation, which currently sits at a price target 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 Corporation, Benzinga Pro gives you real-time options trades alerts.
