Salesforce (CRM) Options Signal Bullish Bias: Key Strike Levels and AI-Driven Trade Setup

• Salesforce’s price dropped 2.6% to $254.55, trading below its 30-day moving average of $247.43.
• Options data shows heavy call open interest at $260–$275 strikes, with a put/call ratio of 0.61 signaling bullish sentiment.
• CEO Marc Benioff’s AGI push and Google partnership could fuel long-term optimism, but near-term volatility remains.

Here’s the core insight: options market positioning and technicals suggest a high probability of a rebound toward $260–$275 if Salesforce holds key support. But if the stock breaks below $245, the bear case gains strength. Let’s break down why.

Bullish Sentiment in Options: Calls at $260–$275 Dominate

The options chain tells a clear story. For Friday’s expiration, the top call strikes with the most open interest are clustered between $260 and $275—specifically, $260 (OI: 2,195), $265 (OI: 1,898), and $270 (OI: 2,454). These strikes act like a "gravity well" for the stock: traders are betting on a rebound to these levels.

Meanwhile, puts are concentrated at $240 (OI: 2,876) and $245 (OI: 1,811), suggesting a bearish hedge if the stock collapses further. The put/call ratio of 0.61 (calls outweighing puts) reinforces the bullish bias. But here’s the catch: if CRM fails to hold its 30-day support range of $245.67–$246.22, the $240 put strike could become a self-fulfilling prophecy.

Block trading is quiet, so no whale moves to distort the market. That means retail and institutional options activity are the main drivers—both leaning toward a short-term rebound.

AI News Bolsters Long-Term Optimism, But Short-Term Risks Remain

Salesforce’s AI announcements—like Einstein 1’s native integration and the Google Gemini partnership—paint a compelling long-term narrative. Benioff’s AGI vision and hiring blitz signal confidence in the company’s AI roadmap. But here’s the rub: the stock is currently trading below its 200-day moving average ($270.48), and the recent 2.6% drop suggests near-term profit-taking or skepticism about execution timelines.

Investor perception is split. On one hand, the AI upgrades and partnerships validate Salesforce’s strategic direction. On the other, the market might be pricing in execution risks—like whether AGI can deliver tangible ROI or if the hiring spree strains margins. For now, the news supports the bullish options positioning but doesn’t eliminate the risk of a pullback.

Actionable Trade Ideas: Calls at $260 and $255, or a Stock Buy at $246

For options traders: buy the $260 call expiring Friday (OI: 2,195) if CRM rebounds above $253.75 (intraday low). The $260 strike is the most liquid and has strong support from open interest. If the rebound is delayed, consider the $255 call expiring next Friday (OI: 734) as a lower-risk entry. Both strikes align with the Bollinger Band upper bound ($266.54) and RSI neutrality (68.29), suggesting a fair value target.

For stock traders: consider entry near $246.22 if the stock holds its 30-day support range. Set a stop-loss below $241.92 (200D support). If successful, the first target is $260 (MACD histogram at 1.08 suggests momentum), with a stretch target at $270 (key call strike and 200D average).

Bearish players could buy the $240 put expiring Friday (OI: 2,876) as insurance if the stock breaks below $245. But given the bullish options skew, this is a defensive play, not a core bet.

Volatility on the Horizon: AI’s Double-Edged Sword

The coming weeks will test Salesforce’s ability to balance optimism with execution. The AI narrative is strong, but the stock’s technicals are in a fragile sweet spot. If CRM holds its support and rallies toward $260–$275, the bullish options bets will pay off. But a breakdown below $245 could trigger a wave of panic selling, especially with puts already primed at $240.

Bottom line: This is a high-reward, high-risk setup. The options data and news flow lean bullish, but the stock’s near-term fate hinges on whether it can stabilize above $245. For traders, the key is to stay nimble—lock in profits if the rebound hits $260, or tighten stops if the stock falters. The AI revolution isn’t here yet, but the market is betting it’s coming.