Salesforce (CRM) Options Signal Bullish Bias: Here’s How to Position for a $260+ Breakout

• Salesforce’s price dropped 1.98% to $258.20, but options data shows heavy call open interest at $260–$275 strikes.
• The put/call ratio for open interest is 0.61, favoring bullish sentiment ahead of key AI-driven growth announcements.
• Technical indicators (MACD, RSI) suggest a short-term rebound could target $265–$270, aligning with high-activity call strikes.

Here’s the thing: Salesforce’s stock is dancing on a tightrope right now. It’s down nearly 30% year-to-date, but the options market and recent news are screaming bullish. Let’s break down why this could be a setup for a $260+ rebound—and how to play it.

The Options Playbook: Calls Outmuscle Puts at Key Strikes

The options chain for CRM is a goldmine of insight. For Friday’s expiration, the top call strikes ($260, $265, $270) have combined open interest of 10,012 contracts. That’s not just noise—it’s a signal. Traders are betting the stock will rebound above its 50-day moving average ($243.78) and test the $260 psychological level.

On the put side, the top strikes ($235–$240) have 7,545 open interest. That’s meaningful, but it’s only 75% of the call volume. The put/call ratio of 0.61 (calls dominate) tells me the market is pricing in a higher probability of a rebound than a collapse.

But here’s the catch: If CRM fails to hold above $250 (its 30-day support range), those puts could become a lifeline for bears. The lack of block trades (no whale-sized bets) means this is a crowd-sourced bet, not a top-down call from institutional players.

News as Fuel: AI Hype Justifies the Bull Case

Salesforce’s recent headlines are a masterclass in positioning. The company isn’t just talking about AI—it’s building it. From integrating OpenAI’s GPT-5 into Agentforce 360 to launching AI-powered voice agents for customer service, the product roadmap is aggressive.

The kicker? They’re projecting $60 billion in revenue by 2030—excluding the Informatica acquisition. That’s a 10%+ organic growth target for the next five years. For a stock trading at a discount to its 200-day moving average ($273.54), this kind of guidance could spark a re-rating.

But here’s the rub: Investors are still skittish. The stock’s 29% YTD drop reflects skepticism about AI monetization. If the market doesn’t buy into the narrative, the $242.34 support level (30-day range) could crumble.

Trade Ideas: Calls for the Rebound, Longs for the Breakout

If you’re bullish, here’s how to play it:

• Options Play: Buy the $260 call expiring Friday (OI: 2,875). It’s the most liquid strike in the high-activity range and gives you leverage if CRM pops above $260. For a longer-term bet, the $265 call expiring next Friday (OI: 1,035) offers more time for the AI narrative to play out.
• Stock Play: Consider a long entry near $250 if the 30-day support holds. Set a stop-loss below $242.34. If it breaks, pivot to a short-term bearish play with the $240 put (OI: 1,701) for next Friday’s expiration.

Volatility on the Horizon: Balancing Risk and Reward

The technicals and options data paint a clear picture: CRM is in a short-term bullish phase but remains in a long-term trading range. The key is timing. If the stock breaks above $265 (the upper Bollinger Band at $256.53), it could target $270–$275, where the heavy call OI is concentrated.

But don’t ignore the risks. The 200-day moving average ($273.54) is a bearish hurdle. If CRM can’t clear it, the rally might fizzle. For now, the AI-driven narrative and options positioning suggest a high-conviction trade—but keep your seatbelt fastened.

In the end, this is a stock at a crossroads. The options market is pricing in a rebound, the news flow is bullish, and the technicals hint at a breakout. But the path isn’t without potholes. Play it smart: use the $260 call as a leveraged bet, keep an eye on $250 support, and don’t let emotion override your plan.

The bottom line? If Salesforce’s AI bets pay off, this could be a golden opportunity. But if the market stays skeptical, the $240–$245 range could become a new battleground. Stay nimble, and let the data guide your next move.