Someone with a lot of money to spend has taken a bearish stance on Atlassian Corporation (NASDAQ:TEAM).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with TEAM, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for Atlassian Corporation.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $354,803, and 5 are calls, for a total amount of $206,140.
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 $160.0 to $240.0 for Atlassian Corporation over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Atlassian Corporation options trades today is 172.25 with a total volume of 410.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Atlassian Corporation's big money trades within a strike price range of $160.0 to $240.0 over 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 | PUT | TRADE | BEARISH | 01/20/23 | $160.00 | $152.2K | 83 | 97 |
| TEAM | CALL | TRADE | BEARISH | 07/29/22 | $200.00 | $59.0K | 290 | 20 |
| TEAM | CALL | TRADE | BEARISH | 01/19/24 | $195.00 | $58.3K | 5 | 10 |
| TEAM | PUT | TRADE | BULLISH | 06/16/23 | $195.00 | $40.6K | 0 | 32 |
| TEAM | PUT | TRADE | BULLISH | 06/16/23 | $195.00 | $40.6K | 0 | 11 |
Where Is Atlassian Corporation Standing Right Now?
- With a volume of 928,123, the price of TEAM is down -3.63% at $194.93.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 10 days.
What The Experts Say On Atlassian Corporation:
- Morgan Stanley has decided to maintain their Overweight rating on Atlassian Corporation, which currently sits at a price target of $430.
- Bernstein downgraded its action to Outperform with a price target of $257
- Citigroup has decided to maintain their Buy rating on Atlassian Corporation, which currently sits at a price target of $375.
- Keybanc has decided to maintain their Overweight rating on Atlassian Corporation, which currently sits at a price target of $278.
- Goldman Sachs upgraded its action to Buy with a price target of $300
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.
