Salesforce Options Traders Load Up on Puts as CRM Hovers Near 52-Week Lows

By TrendSpider Editor

A dominant bearish options position is drawing attention in Salesforce, Inc. (CRM) today, with a single put contract at the $170 strike generating $1,334,550 in premium, easily overshadowing the other three unusual contracts flagged in Monday's session. CRM shares are currently trading at $169.545,

Salesforce Options Traders Load Up on Puts as CRM Hovers Near 52-Week Lows

A dominant bearish options position is drawing attention in Salesforce, Inc. (CRM) today, with a single put contract at the $170 strike generating $1,334,550 in premium, easily overshadowing the other three unusual contracts flagged in Monday's session. CRM shares are currently trading at $169.545, down 0.77% on the day, and sitting uncomfortably close to the lower end of its 52-week range of $147.58 to $274. With the stock trading at levels last seen near multi-year lows relative to its annual high, the unusual options flow adds a layer of urgency to an already technically vulnerable setup.

Key Drivers of the CRM Stock Move

The forward setup for CRM is challenging. The stock has shed significant ground from its 52-week high of $274, and the concentration of near-term put premium at the $170 level suggests traders are not expecting a swift recovery. The August 21 expiration gives the dominant put position only about a month of runway, implying a high-conviction, short-term directional bet. Any failure to reclaim the $170 level in the coming weeks could accelerate downside pressure. Longer-term, the two December 2028 calls at $120 indicate a bifurcated market view, with some participants treating the current selloff as a long-term buying opportunity even as short-term sentiment leans decidedly negative.

CRM Unusual Options Activity

Four contracts were flagged as unusual in Monday's session, totaling $1,437,028 in combined premium:

The $170 August put dominates the activity, accounting for the vast majority of total unusual premium. The two $300 October puts, while small in size, registered a 1000% open interest ratio, signaling entirely new positioning. The put-to-call ratio for today's unusual flow is skewed heavily bearish by premium volume.

CRM Seasonality

Historically, the late July and August period can bring elevated volatility for large-cap technology names as second-quarter earnings cycles wrap up and institutional traders reposition ahead of the fall. The August 21, 2026, expiration on the dominant put contract aligns with this seasonally sensitive window, suggesting the trader may be anticipating a near-term catalyst or continued drift lower before summer closes out.

CRM Relative Performance

CRM is currently trading at $169.545, representing a decline of approximately 38% from its 52-week high of $274 and sitting just 15% above its 52-week low of $147.58. The stock's position in the lower quartile of its annual range stands in contrast to broader technology sector peers that have seen more resilient price action, underscoring the degree to which Salesforce has underperformed on a relative basis over the trailing year.

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