Salesforce (CRM) Options Signal Bullish Bias: Key Call OI at $250–$270 Suggests Breakout Potential Amid AI-Driven Momentum

• Salesforce (CRM) trades at $243.89, up 1.22% with RSI at 38.77 and MACD -1.60, signaling oversold conditions and bearish momentum.
• Options data reveals a 0.61 put/call open interest ratio, with heavy call OI at $250–$270 and put OI at $235–$240, hinting at a potential $250+ breakout.
• Recent news includes a $6B UK investment, AI partnerships, and a $374 price target raise, aligning with bullish options positioning.

The options market and technicals are converging on a bullish bias for Salesforce, with key call open interest (OI) levels at $250–$270 acting as a focal point for potential upside. While short-term bearish trends persist, the combination of oversold RSI, AI-driven growth news, and a skewed put/call ratio suggests a high-probability breakout scenario. Traders should monitor support at $242.14 and resistance at $258.01 (Bollinger Upper Band) for directional clarity.

Bullish Imbalance in OTM Options and Strategic Strike-Level Analysis

The options chain reveals a stark imbalance in open interest, with call OI dominating at $250–$270 and put OI concentrated at $235–$240. For Friday expiration, the $250 call (OI: 2,602) and $255 call (OI: 1,801) are the most heavily positioned, while the $235 put (OI: 2,014) and $240 put (OI: 1,552) anchor downside expectations. This distribution suggests institutional positioning for a $250+ price target, with heavy call buying indicating conviction in AI-driven growth narratives. The put/call ratio of 0.61 (put OI: 247,346 vs. call OI: 403,210) further reinforces bullish sentiment, as market participants are hedging downside risks while leaning into upside potential.

However, risks remain if the stock fails to hold above $242.14 (30D support) or breaks below the $236.72 lower Bollinger Band. Such a move could trigger a cascade of put activity at $235–$240, potentially capping near-term gains. The absence of notable block trades adds ambiguity, but the concentration of OI at $250–$270 suggests a well-defined target range for aggressive longs.

News Flow Validates Options Sentiment and AI-Driven Growth Thesis

Salesforce’s recent news cycle provides a strong tailwind for the bullish case. The $6 billion UK investment and $50 billion share repurchase program underscore long-term confidence in AI monetization, while partnerships with CrowdStrike and Stibo Systems highlight strategic moves to strengthen its agentic enterprise ecosystem. Analysts have raised price targets to $374, citing $1.2 billion in AI-related annual recurring revenue and 11% Q2 subscription growth. These developments align with the options market’s focus on $250–$270, as investors price in the likelihood of continued AI-driven margin expansion and buyback-driven EPS growth.

The only potential headwind is the 4,000 layoffs in customer support roles, which could be interpreted as a short-term efficiency play rather than a negative. However, the broader narrative of AI adoption (e.g., Agentforce, Data Cloud) and cross-industry partnerships (Workday, Databricks) suggests the market is pricing in structural growth, not cyclical weakness. This alignment between fundamentals and options positioning strengthens the case for a breakout above $250.

Actionable Trade Ideas: Calls at $250–$270 and Stock Entry Near $242.14

For options traders, the $250 call (OI: 2,602) and $255 call (OI: 1,801) expiring this Friday are the most attractive, given their high OI and proximity to the 30D moving average ($246.51). A breakout above $250 would likely trigger a cascade of call liquidity, making these strikes ideal for directional plays. For longer-term positioning, the $267.5 call (OI: 1,134) expiring next Friday offers a higher-risk, higher-reward setup if the stock continues to trend upward.

Stock traders should consider entry near $242.14 (30D support) with a stop-loss below $236.72 (lower Bollinger Band). A successful breakout above $250 could target $258.01 (Bollinger Upper Band) or even $267.50 (next Friday’s call-heavy strike). For conservative plays, a bullish strangle (buying the $250 call and $240 put) could hedge against volatility while capitalizing on the $250+ breakout scenario.

Volatility on the Horizon: A Bullish Setup with Defined Risks

The convergence of technical indicators, options positioning, and AI-driven fundamentals paints a compelling case for a near-term breakout in Salesforce. While the RSI at 38.77 and oversold conditions suggest a potential rebound, the heavy call OI at $250–$270 and bullish news flow indicate that the market is pricing in a $250+ move. Traders should remain vigilant about the $242.14 support level and the risk of a pullback below $236.72, which could trigger a shift in sentiment. However, the alignment of short-term momentum and long-term AI monetization makes this one of the most actionable setups in the enterprise software sector. As the stock approaches key resistance, the options market’s focus on $250–$270 will serve as a critical barometer for the next leg of the rally.