Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for ATLASSIAN CORPORATION PLC CLASS A ORDINARY SHARES (TEAM) for the 17-Jul-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TEAM was recently trading at $184.77 and has an implied volatility of 46.99% for this period. Based on an analysis of the options available for TEAM expiring on 17-Jul-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $184.83-$223.73 at expiration. In this scenario, the average linear return for the trade would be 67.04%. 52 week high: ATLASSIAN CORPORATION PLC CLASS A ORDINARY SHARES recently reached a new 52-week high at $189.50. TEAM had traded in the range $107.00-$182.60 over the past year. Trade approach: Reaching a new 52-week high is a bullish indicator, so this trade is designed to be profitable if TEAM maintains its current direction and does not revert back to pricing on the bearish side of $184.77 on 17-Jul-2020. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if ATLASSIAN CORPORATION PLC CLASS A ORDINARY SHARES closes at or above $183.70 on 17-Jul-2020. Based on our risk-neutral analysis, there is a 51.28% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.