Atlassian Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Atlassian (NASDAQ:TEAM), with 60% of recent trades being bearish and 40% bullish. The total amount for put options is $239,960 and for call options is $196,141. Whales have been targeting a price range from $160.0 to $195.0 for Atlassian over the last 3 months. The current price of TEAM is down -0.52% at $204.83. Citigroup maintains their Buy rating on Atlassian with a price target of $230.
September 06, 2023 | 5:16 pm
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Bearish stance on Atlassian with 60% of recent trades being bearish. Whales target price range $160-$195. Current price down -0.52% at $204.83. Citigroup maintains Buy rating with $230 target.
The bearish stance by a significant investor and the higher volume of put options indicate a potential downward pressure on Atlassian's stock price. However, Citigroup's maintained Buy rating and higher price target suggest a positive long-term outlook. The current price is above the whale's target range, which may lead to short-term price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100