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

• Salesforce (CRM) trades at $254.32, down 0.9% from its open, but sits above its 100-day moving average ($253.86).
• Options market shows call dominance: 445,850 open interest in calls vs. 271,435 in puts (ratio: 0.608), with heavy call volume at $260–$275 strikes.
• Recent AI partnerships with OpenAI and Alphabet, plus $60B+ revenue targets, fuel optimism despite near-term technical headwinds.

Here’s the core insight: Options data and technicals align on a bullish bias, but the stock’s proximity to its 200-day moving average ($273.16) introduces a critical inflection point. Let’s break it down.

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

The options chain tells a clear story. For Friday’s expirations, the top five OTM call strikes ($260–$275) have combined open interest of 12,000+ contracts, while puts at $235–$240 hold 7,000+ contracts. This call-heavy setup suggests investors are pricing in a rebound above $260, possibly driven by the AI partnership hype. The put/call ratio of 0.608 reinforces this—buyers are more aggressive than sellers.

But don’t ignore the risks. The 200-day moving average at $273.16 is a psychological hurdle. If CRM can’t break through that, the bullish momentum could stall. The lack of block trades (no whale-sized bets) means this is a retail/institutional crowd-sourced bet, not a top-down signal.

AI News Fuels Optimism, But Can It Sustain the Hype?

Salesforce’s partnership with OpenAI and Alphabet isn’t just buzz—it’s a strategic move to embed AI into core workflows. The $60B revenue target by 2030 and Q2 Data Cloud/Agentforce growth (120% YoY) are hard to ignore. But here’s the catch: AI hype often outpaces execution. If the market discounts these partnerships as “just another AI play,” the stock could retest support at $241.92 (200D MA) or $244.14 (middle Bollinger Band).

Investor perception is key. If the AI integrations translate to tangible revenue growth (e.g., Agentforce’s $440M ARR scaling), the stock could reaccelerate. But if the Street views this as a “me-too” AI play, the current rally might be short-lived.

Actionable Trade Ideas: Calls at $260, Stock Buy Zones at $241.92

For options traders: Buy the $260 call expiring Friday (OI: 2,723). At $254.32, this gives you 2.3% upside to break even. If CRM rebounds above $258.29 (upper Bollinger Band), the $260 call could see explosive gains. For a longer-term play, the $265 call expiring next Friday (OI: 995) offers leverage if the AI narrative holds.

For stock traders: Consider entry near $241.92 if the 200D MA holds. This level acts as a critical support zone. Set a stop-loss below $237.50 (a put-heavy strike) to protect against a breakdown. If the stock holds, target $258.29 (upper Bollinger Band) or $273.16 (200D MA) as profit-taking levels.

Bearish caution: If CRM drops below $241.92, consider the $240 put expiring next Friday (OI: 847) as a hedge. It’s a cheaper way to protect downside risk if the AI optimism fades.

Volatility on the Horizon: Balancing Bullish Momentum and Technical Headwinds

The next few weeks will test CRM’s resolve. The AI partnerships and growth targets are strong tailwinds, but the stock’s technical profile is mixed. The RSI at 60.98 and MACD above the signal line hint at short-term bullish momentum, but the long-term ranging pattern (30D MA at $244.25 vs. 200D MA at $273.16) suggests caution.

Here’s the takeaway: This is a high-conviction trade for AI believers, but only if you’re disciplined with stop-losses. The options market is pricing in a rebound above $260, but the 200D MA looms large. If you’re bullish, the $260 call is your best bet. If you’re bearish, the $240 put offers a safety net. And for stock players, the $241.92 support is your make-or-break level.

One last thought: Markets love stories, especially AI ones. But stories need results. Keep an eye on Q3 earnings and Agentforce adoption rates. If the AI hype translates to real revenue, CRM could surprise to the upside. If not… well, the 200D MA won’t wait.