Analyzing the options chain and the chart patterns of TEAM Atlassian Corporation prior to the earnings report this week, I would consider purchasing the 237.50 usd strike price Puts with an expiration date of 2024-2-2, for a premium of approximately $5.65. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Trade closed: target reached
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TEAM traded at $211.31 after earnings, and the Puts went up from $5.65 (when I wrote this article) to $20.11 at the close on Friday (a Lot higher intraday), for about 3.55X gain! Congrats to those who bought the puts!