Salesforce (CRM) Options Signal Bullish Bias: Key Strike Levels and Trade Setups for Q4 2025

• Salesforce’s options market shows heavy call open interest at $267.5 and $270, with a put/call ratio of 0.608 (calls dominate).
• Technical indicators suggest a short-term bullish trend, but long-term range-bound pressure near $249.48 (Bollinger Mid).
• Recent news highlights AI-driven growth and strategic acquisitions, but conservative guidance and insider selling add near-term uncertainty.

Here’s the core insight: options data and technicals align on a bullish bias for CRM, but traders must watch the $245–$246 support zone to avoid a breakdown. The stock’s AI momentum and strategic moves like the Regrello acquisition are fueling optimism, but cautious guidance and insider selling mean volatility could spike either way.

Bullish options positioning and the shadow of $245 support

Let’s start with the options chain. This Friday’s top OTM calls are clustered at $267.5 (OI: 1,853), $270 (OI: 1,842), and $265 (OI: 1,456). These strikes form a tight cluster just above the current price of $259.05, suggesting institutional players are hedging for a short-term pop—likely tied to Q4 earnings or AI-driven product launches. The histogram on the MACD (0.99) and RSI (58.7) both hint at momentum building, but the Bollinger Bands show the stock is trading near the lower end of its 20-day range ($233.96–$265.00).

On the put side, the $240 strike (OI: 2,199) is the most watched, with a second-tier put at $255 (OI: 1,570). This means the market is pricing in a potential drop to $240 if support levels fail. But here’s the catch: the 30-day support zone is at $245.67–$246.22, and a breakdown below that could trigger a cascade to the $240 put. Traders should treat $245 as a critical line in the sand.

Block trading is quiet for now, but the next Friday’s options show a long-dated call skew at $280 (OI: 965) and $295 (OI: 756). These strikes suggest some investors are banking on a post-earnings pop or a Q4 rally from the Regrello acquisition closing.

AI momentum vs. cautious guidance: What the news means for sentiment

Salesforce’s AI-driven growth is real. The Agentforce and Data Cloud platforms are hitting double-digit growth, and the Regrello acquisition adds a strategic layer to its B2B commerce play. But here’s the rub: Q3 guidance ($10.265B) fell short of estimates, and CEO Marc Benioff’s insider selling (2,250 shares at $251.12) has raised eyebrows.

The market is parsing this duality. On one hand, AI monetization and product launches (like Agentforce for Public Sector) are bullish. On the other, conservative guidance and sector-wide weakness (software stocks are under pressure) have traders hedging. The options data reflects this tension: heavy call buying for near-term pops but a put-heavy tail at $240.

Actionable trade ideas: Calls for the pop, puts for the drop

For options traders, the $267.5 call (Friday expiry) is a high-conviction play. If CRM breaks above its intraday high of $261.22 and holds the 200D MA ($270.78), this strike could see a 10–15% move. The RSI is still in neutral territory (58.7), so a breakout could trigger a rally toward $270.

For next Friday, the $270 call (OI: 435) is a longer-term play. If the stock holds $245 support and the AI narrative gains steam, this strike could act as a proxy for a post-earnings pop.

On the bearish side, the $240 put (Friday expiry) is a high-impact trade. If CRM closes below $245.67, this put could see a 20–25% move. But the 30-day support at $245.67 is a better entry point for a short-term bearish play.

For stock traders, consider entry near $255 if the 20-day MA ($247.04) holds. A breakout above $261.22 (intraday high) could target $267.5–$270. A breakdown below $245.67 would aim for $240–$233.96 (lower Bollinger Band).

Volatility on the horizon: Balancing AI optimism with near-term risks

The key takeaway? Salesforce is in a bullish technical setup with AI-driven momentum, but the stock is fighting a headwind from conservative guidance and sector weakness. The options market is pricing in a short-term pop (calls at $267.5–$270) but also a potential drop to $240 if support fails.

Traders should focus on defined levels: $261.22 (breakout threshold), $245.67 (critical support), and $270 (long-term target). The coming weeks will test whether the AI narrative can overcome near-term skepticism. For now, the data says: play the pop, but hedge the drop.