Salesforce (CRM) Options Signal Aggressive Bullish Bets at $250–$300: Here’s How to Play the AI-Driven Rebound

• CRM’s price dropped 1.87% to $232.59, breaking below key support levels and confirming a short-term bearish trend.
• Options market shows heavy call open interest at $250 and $300 strikes, suggesting aggressive bullish positioning despite the selloff.
• Put open interest peaks at $227.5, hinting at potential downside risk if the stock fails to stabilize.
• Recent news highlights AI-driven acquisitions (Informatica, Spindle AI) and mixed earnings, creating a tug-of-war between long-term optimism and near-term caution.

Here’s the core insight: Options traders are betting on a rebound above $239 support, but technicals and sentiment suggest a volatile path ahead. Let’s break it down.

Bullish Bets at $250–$300 vs. Bearish Safeguards at $227.5

The options chain tells a story of divided expectations. For Friday expiration, call open interest spikes at $250 (8,161 contracts) and $300 (7,338), while puts peak at $227.5 (7,448). This isn’t just noise—it’s a signal. Traders are hedging two possibilities:

• A short-term rebound if Salesforce holds above its 30-day support ($239.26) and bounces off the Bollinger Band lower bound ($234.18).
• A sharp drop if the stock can’t defend its 200-day support ($238.64), which would validate the bearish MACD (-2.03) and RSI (34.87) readings.

The absence of block trades is telling. No whales are moving massive positions here, so this is retail and institutional options activity driving the narrative. The $250 call strike is particularly interesting—it’s 6% above current price, implying a belief that AI-driven growth (from Informatica and Spindle AI) could spark a rebound before earnings season.

News vs. Options: AI Optimism vs. Earnings Caution

Salesforce’s recent headlines are a mixed bag. The acquisition of Informatica and Spindle AI are long-term positives, adding AI-powered data tools to its ecosystem. But Q2 earnings showed insider selling and conservative guidance, which spooked short-term traders.

Here’s the tension:

• Bullish angle: The AI narrative is strong. Agentforce 360 and Data Cloud are growing rapidly, and the market may eventually price in these strategic moves.
• Bearish angle: Earnings guidance below expectations and analyst price target cuts suggest near-term profit-taking and skepticism about execution risks.

Options traders are pricing in both scenarios. The $300 call OI reflects long-term AI optimism, while the $227.5 put OI guards against a breakdown below critical support. The key question: Will the stock stabilize before these options expire Friday, or will it follow the technical indicators into further decline?

Actionable Trade Ideas: Calls for AI Bets, Puts for Downside Protection

For options traders, here’s how to position:

• Bullish play: Buy the $245 call (next Friday expiration). It’s closer to the current price than the $250 strike and offers better leverage if the stock rebounds above $239. The RSI at 34.87 suggests oversold conditions, which could trigger a bounce.
• Bearish play: Sell the $225–$230 put spread. If CRM breaks below $230.27 (intraday low), the $225 put could gain value. This is a cheaper way to hedge against a breakdown than buying outright puts.

For stock traders, consider:

• Entry near $239 (30-day support) if the stock holds above $234.18 (lower Bollinger Band). Target $245–$250 if the AI narrative gains traction.
• Shorting near $230.27 if the stock breaks below its 200-day support ($238.64). Exit at $227.5 (put OI peak) or $225 for risk management.

Volatility on the Horizon: Balancing AI Optimism with Near-Term Risks

The final takeaway? Salesforce is at a crossroads. The options market is split between AI-driven bullish bets and near-term bearish caution. Technicals (MACD, RSI, Bollinger Bands) all lean bearish, but the call OI at $250 suggests traders aren’t giving up on the AI story just yet.

Your move depends on your time horizon. If you’re bullish on AI’s long-term impact, the $245 call is a low-cost way to play the rebound. If you’re bearish on near-term execution risks, the $225–$230 put spread offers downside protection. And if you’re a stock trader, watch the $239 support like a hawk—it could be the line between a rebound and a breakdown.

One thing’s certain: Volatility is coming. The question is whether you’ll ride the AI wave or hedge against the crash. The options market has already placed its bets. Now it’s your turn.