Salesforce (CRM) Options Signal Bullish Bias at $260–$275: Here’s How to Play the AI-Driven Rebound

• Salesforce’s stock (CRM) surged 2.9% to $258.74, nearing its 52-week high of $262.79.
• Options market shows heavy call open interest at $260 and $275 strikes, with a put/call ratio of 0.61 (calls dominate).
• Record Q2 results, a $15B AI investment, and Agentforce 360 updates fuel optimism, but insider selling adds caution.

Here’s the takeaway: CRM’s options activity and technicals suggest a bullish setup for a breakout above $260, but risks linger below $245. Let’s break down why—and how to position for it.

The Options Playbook: Calls Stack Up, Puts Hedge the AI Gamble

The options market is betting big on a rebound. For Friday expiration, calls at $260 (OI: 3,419) and $275 (OI: 2,934) dominate, while puts at $240 (OI: 2,080) and $245 (OI: 1,852) hint at cautious downside protection. This imbalance—calls outweighing puts by 61%—signals traders are pricing in a near-term rally, likely tied to Salesforce’s AI-driven momentum.

But here’s the catch: The 200-day moving average ($271.42) looms as a psychological hurdle. If CRM cracks $265, the $275 calls could see explosive action. However, a drop below $245 (30-day support) would validate the puts’ bearish case. No major block trades skew the data, so this is pure retail and institutional call buying—a classic "buy the rumor, sell the news" setup.

News as Fuel: AI Investments vs. Execution Risks

Salesforce’s recent headlines are a mixed bag. The $15B AI hub and Agentforce 360 updates scream long-term growth, but insider selling and conservative Q3 guidance keep skeptics at bay. Think of it like a car with a high-performance engine (AI) but a shaky transmission (execution risks).

Investor sentiment is split: The stock’s 2.9% rally today reflects optimism about AI adoption, but the RSI at 54.46 and MACD histogram cooling to 0.84 suggest momentum is moderating. If the company can deliver on its Agentic Enterprise vision—turning Slack into an AI OS—the $275 calls might be a steal. But a misstep in scaling Agentforce could send shares back to the $240–$245 range.

Trade Ideas: Calls for the Bold, Stock for the Patient

For options traders: Buy CRM 12/12/25 260C (Friday expiry) at $4.50–$5.00. Why? The stock is already testing the $260 level, and a breakout would trigger a cascade of stop-loss orders above that strike. If you want a longer play, CRM 12/19/25 267.5C (next Friday) offers a safer entry as the stock trades near its 30-day moving average ($246.18).

For stock buyers: Consider entry near $250 if support holds. Set a target at $265 (Bollinger Band upper bound) and a stop-loss at $245. The RSI isn’t overbought yet, so there’s room for a pullback before a potential breakout.

Volatility on the Horizon: Balancing AI Hype and Reality

The next few weeks will test CRM’s resolve. A strong earnings report or a major client win for Agentforce 360 could push shares above $270. But if the AI rollout stumbles—or if the $245 support breaks—the puts at $240 might become a magnet.

Bottom line: This is a high-conviction trade for AI believers. The options market is pricing in a 5–7% move by Friday, but the stock’s long-term bearish trend (200D MA above price) means patience is key. Play it like a poker hand: Bet big if the $260 level holds, but cut losses if the AI dream falters.

Final Call

Salesforce is at a crossroads. The options data and news flow paint a picture of a company betting its future on AI—a high-risk, high-reward play. For traders, the $260–$275 call strikes are the most compelling, but don’t ignore the puts if the stock stumbles. And for the long game? The $15B AI hub is either a masterstroke or a cash-burning experiment. Only time will tell—but the market’s already placing its bets.