Atlassian Unusual Options Activity For July 31
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Atlassian (NASDAQ:TEAM) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 33% bullish and 66% bearish. Out of the special options, 10 are puts, for a total amount of $646,296, and 5 are calls, for a total amount of $167,950. The price of TEAM is up 4.48% at $182.01, with RSI indicators suggesting the stock may be approaching overbought. Next earnings are expected in 3 days.
July 31, 2023 | 6:15 pm
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Unusual options activity indicates a significant bearish stance on Atlassian (NASDAQ:TEAM). The stock price is up 4.48% at $182.01, with RSI indicators suggesting it may be overbought. Next earnings are expected in 3 days.
The unusual options activity, with a significant bearish sentiment, suggests that large investors are expecting a potential drop in Atlassian's stock price. This, combined with the RSI indicators suggesting the stock may be overbought, indicates a potential short-term negative impact on the stock price. The upcoming earnings release could also influence the stock's performance.
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