Salesforce (CRM) Options Signal Aggressive Bullish Bias: Key Strike Levels and Trade Setups for Dec 12–19

• Salesforce trades at $261.68, up 0.25% with RSI near overbought territory (73.57).
• Options data shows call open interest dominates, especially at $290 and $300 strikes for Dec 19.
• Recent news: Record Q4 revenue, AI acquisition, and a $10B buyback boost confidence.

Here’s the core insight: The options market is pricing in a strong upside bias, with heavy call buying at key levels and a put/call ratio of 0.62 (calls outweighing puts). While technicals hint at short-term bullish momentum, the overbought RSI and wide Bollinger Bands suggest caution. Let’s break it down.

Bullish Sentiment Locked in OTM Calls, But Risks Lurk Below

The options chain for Dec 19 tells a clear story: 18,573 open contracts at the $290 call (CRM20251219C290) and 12,530 at $300 (CRM20251219C300) show big money betting on a sharp move higher. Compare that to puts: the largest open interest is at $220 (CRM20251219P220) with 6,195 contracts. This 3:1 call/put skew suggests institutional players are hedging for a rally—or front-running one.

But don’t ignore the risks. The 200-day moving average ($258.97) and Bollinger Band middle ($238.998) act as psychological floors. If CRM dips below $255 (a strike with 1,349 puts open), the FTC investigation and broader market profit-taking could accelerate the slide. No major block trades to signal sudden shifts, though.

News Flow Fuels Optimism, But Not All Headlines Are Equal

Salesforce’s Q4 beat, AI product launches, and Microsoft partnership are tailwinds. The $1.2B acquisition of NextGen AI and $10B buyback signal management’s confidence. But the FTC probe? That’s a wildcard. Retail investors might dismiss it, but institutional buyers often price in regulatory risks ahead of rulings. The good news? The stock’s 22% YTD gain and strong earnings guidance have already priced in most of the positives. New catalysts—like the SMB product launch—could extend the rally, but don’t expect miracles if the FTC tightens the screws.

Trade Ideas: Calls for Dec 19, Stock Breakouts, and a Bearish Hedge

1. Options Play: Buy the CRM20251219C290 call. Why? High open interest means liquidity, and a break above $290 would trigger a cascade of stop-loss orders. If CRM hits $295 by Dec 19, this call could multiply your investment 5x.

1. Stock Setup: Watch the $262 level (just above the upper Bollinger Band at $261.71). A close above here could target $275–$280. For a safer play, buy on a pullback to the 30D support ($234–$234.72).

1. Bearish Hedge: Sell the CRM20251219P220 put if you’re long the stock. The high OI here means there’s demand for downside protection. But only do this if you’re comfortable holding CRM through a $220 drop—those puts could get exercised.

Volatility on the Horizon: What to Watch

The next 10 days are critical. A breakout above $280 would validate the bullish case, while a close below $255 could reignite the long-term rangebound pattern. Keep an eye on the 200D MA ($258.97) as a dynamic support level. If the stock holds here, the $265–$270 calls (expiring Dec 12) might still offer short-term pops. But if it cracks $250, the puts at $255 (1,349 OI) could become a lifeline for cash-secured short sellers.

Bottom line: The options market is pricing in a big move higher, and the fundamentals back it. But don’t let bullish bias blind you to the risks. This is a stock that’s already climbed 22% YTD—every rally needs a breather. Play it smart: use the calls for leverage, the puts for protection, and the stock’s moving averages as your guideposts.