Looking At Atlassian's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Atlassian (NASDAQ:TEAM) has seen unusual options activity, indicating a bearish stance by large investors, with a sentiment split of 40% bullish and 60% bearish. The activity suggests a price target range of $210 to $280. Recent trading volume and open interest analysis for TEAM's options show significant activity. Atlassian, known for its team collaboration software, is currently trading at $252.8, up 1.21%, with an RSI suggesting it may be approaching overbought territory. Analysts have given mixed ratings, with an average target price of $260.
February 01, 2024 | 5:45 pm
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Atlassian has experienced unusual options activity, indicating a bearish sentiment among large investors. The stock is currently up, trading at $252.8, with analysts providing mixed ratings and an average target price of $260.
The bearish sentiment indicated by the unusual options activity, combined with the stock's current price and the mixed analyst ratings, suggests a potential short-term downside. The significant options trades and the anticipation of the earnings release could lead to increased volatility.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100