Salesforce (CRM) Options Signal $250 Bullish Bias: Earnings-Driven Call Buying and Strategic Entry Points for Dec 5 Expiry

• CRM trades at $236.82, up 0.9% intraday, with RSI at 40.3 and MACD near zero, hinting at a potential short-term bounce.
• Call open interest dominates (435,712 vs. 270,116 puts), with heavy concentration at the $250 strike (3,237 OI) for Friday expiry.
• Earnings loom Friday (Dec 5), with AI execution and Agentforce adoption as key catalysts for a breakout or breakdown.

The options market is whispering a clear message: investors are pricing in a bullish bias ahead of Salesforce’s earnings report. With the stock hovering near its 30-day moving average ($243.67) and Bollinger Bands squeezing between $220 and $254, the stage is set for a directional move. Here’s what the data tells us—and how to position for it.

Bullish Call Accumulation at $250 vs. Cautious Put Protection at $200

The options chain tells a story of optimism. For Friday expiry (Dec 5), the $250 call (CRM20251205C250) leads with 3,237 open interest, followed by the $300 call (2,146 OI). This suggests institutional players are hedging for a sharp post-earnings pop, likely tied to positive AI monetization news. Conversely, the $200 put (CRM20251205P200) has 2,895 OI, acting as a floor if earnings miss expectations. The put/call ratio of 0.62 (favoring calls) reinforces this imbalance.

But here’s the catch: Salesforce’s 200-day moving average ($260.58) is a psychological hurdle. If the stock gaps up on a strong earnings beat, the $250 call could see explosive demand. However, a miss might trigger a retest of the $220 support level (lower Bollinger Band). No major block trades are reported, so this is retail and small-cap institutional activity—less directional conviction than a whale-driven move.

Earnings as the AI Litmus Test

The news flow is a mixed bag. Analysts are split between bullish AI narratives and bearish growth concerns. Salesforce’s recent federal partnerships and Agentforce integration aim to validate its AI-driven revenue model, but execution risks linger. The key question: Will earnings confirm that Agentforce is scaling beyond pilots? If so, the $250 call could act as a leveraged play. If not, the $200 put might cap losses—but the stock’s historical cheapness (P/E at multi-year lows) could still attract bargain hunters.

Actionable Trade Ideas: Calls for Breakouts, Puts for Protection

1. Bullish Call Play: Buy the CRM20251205C250 if the stock breaks above its intraday high of $237.66. Target: $250 (current upper Bollinger Band). Stop-loss: $233.16 (intraday low). This leverages the high OI at $250 and aligns with earnings-driven optimism.

1. Stock Long Entry: Consider buying CRM near $233.16 if it holds above the 30-day MA ($243.67). Target: $250. Use a trailing stop below $220 to protect gains.

1. Neutral Spread: A call spread (CRM20251205C240 + CRM20251205P250) for next Friday (Dec 12) if volatility spikes post-earnings. This caps risk while capitalizing on a potential rally.

1. Downside Hedge: Buy the CRM20251205P220 if the stock dips below $233.16. This aligns with the put-heavy OI at $200–$225 and offers protection against a breakdown.

Volatility on the Horizon: Earnings as the Tipping Point

The next 48 hours will define CRM’s near-term trajectory. A strong earnings report—particularly one showing Agentforce adoption and Data Cloud growth—could propel the stock toward $250 and beyond. Conversely, a weak result might force a retest of the $220 support. The options market is already pricing in this duality: bullish calls for a breakout, cautious puts for a fallback. For traders, the key is to align with the most probable outcome while hedging against the worst-case scenario. Either way, the $250 strike is the gravitational center of this trade. Stay nimble, and let the data guide your next move.