Buying TEAM put contracts.

Atlassian Corp. (TEAM) is a software company that helps business teams work together more efficiently.

The company is emblematic of the high-growth, low profit tech stocks that have been falling out of favor with investors.

Shares currently trade near $235 while the company is only expected to earn a profit of $2.28 per share next year.

In other words, the stock trades for more than 100 times expected profits.

With a high stock price and $60 billion market valuation, there’s plenty of room for TEAM to fall.

Especially in today’s challenging bear market.Our put contracts should profit quickly as TEAM breaks below key support levels.

And if we wind up with a bear-market rally, the volatility premium in these put contracts should help to mute our potential losses.

Bottom line, this play gives us an attractive risk/reward play on a stock likely to fall sharply.