Salesforce (CRM) Options Signal Bullish Rebound Potential: Calls at $250–$255 Dominate Amid Oversold RSI and Key Support Levels

• Salesforce (CRM) trades at $243.73, up 1.15% with volume at 2.91M, near 30D support of $242.14.
• Options open interest shows 61% call bias (403K vs. 247K puts), with top call OI at $250 and $255 strikes expiring this Friday.
• RSI at 38.8 (oversold) and MACD near zero hint at potential short-term reversal after a 2-month bearish trend.

Core Insight: The options market and technicals align on a high-probability rebound scenario for CRM, with key resistance at $246.51 (30D MA) and $250–$255 call strikes acting as a liquidity magnet for bullish capital. While long-term trends remain bearish, near-term catalysts suggest a test of critical support/resistance zones.

Options Sentiment and Liquidity Hotspots

The options chain reveals a striking imbalance: calls dominate open interest at strikes $250–$270 (2602–1158 contracts) for Friday expiration, while puts cluster at $235–$240 (2014–1552 contracts). This distribution suggests two key dynamics:

1. Bullish Positioning: The $250 call (OI: 2602) and $255 call (OI: 1801) act as a liquidity overhang. If CRM breaks above $246.51 (30D MA), these strikes could trigger a self-fulfilling rally as call buyers monetize gains.
2. Downside Contingency: Puts at $235 (OI: 2014) and $240 (OI: 1552) indicate hedging activity. A close below $240.35 (intraday low) could accelerate selling pressure toward the 200D support at $236.72.

The 0.61 put/call OI ratio (calls > puts) reinforces bullish bias, but traders must watch for a breakdown below $242.14 (30D support). No block trades complicate the narrative, suggesting retail and institutional positioning are broadly aligned.

Technical-News Convergence: A Neutral Canvas

CRM’s news flow remains neutral, with no material headlines to drive sentiment. This creates a vacuum where technical factors and options liquidity dominate decision-making. The RSI at 38.8 (oversold) and price near the lower Bollinger Band ($236.72) imply a statistical tendency to revert toward the mean. However, the 200D MA at $282.73 remains a formidable headwind for sustained bullish momentum.

Actionable Trade Setups

1. Short-Term Call Strategy (Friday Expiry):

• Entry: Buy CRM $250 calls (OI: 2602) if price closes above $246.51 (30D MA).
• Target: $255–$260 (5–8% move from current price).
• Stop-Loss: Below $242.14 (30D support) invalidates the setup.

2. Stock Position with Defined Risk:

• Entry: Consider long entry near $242.14 if price holds above the 30D support.
• Target: $246.51 (30D MA) and $250 (key call strike).
• Stop-Loss: Below $240.35 (intraday low) to protect against breakdown.

3. Bearish Contingency (Friday Puts):

• Entry: Buy $235 puts (OI: 2014) if CRM fails to hold $240.95 (previous close).
• Target: $236.72 (lower Bollinger Band) and $235 support.

Volatility on the Horizon: Preparing for CRM’s Technical Rebound

CRM’s near-term trajectory hinges on its ability to reclaim the 30D MA at $246.51. A successful breakout could trigger a cascade of call options liquidity at $250–$255, while a breakdown below $240.35 risks a test of the 200D support. Traders should prioritize tight stop-losses given the stock’s bearish long-term profile (200D MA at $282.73). The absence of news means technical levels and options positioning will dictate short-term volatility, making precise execution critical for capturing this rebound opportunity.