Salesforce Sees $1.75M Bearish Put Flow at $250 as Stock Trades Near 52-Week High Territory

By TrendSpider Editor

A notable bearish options contract has surfaced in Salesforce, Inc. (CRM) just as the stock climbs, with a single put contract at the $250 strike drawing $1,749,000 in premium ahead of its September 18, 2026 expiration. CRM shares are currently trading at $248.57, up 2.25% on the session, placing th

Salesforce Sees $1.75M Bearish Put Flow at $250 as Stock Trades Near 52-Week High Territory

A notable bearish options contract has surfaced in Salesforce, Inc. (CRM) just as the stock climbs, with a single put contract at the $250 strike drawing $1,749,000 in premium ahead of its September 18, 2026 expiration. CRM shares are currently trading at $248.57, up 2.25% on the session, placing them well above the 52-week low of $147.58 but still below the 52-week high of $269.11. The combination of bullish price action and a sizable in-the-money put position creates an interesting tension heading into next week.

Key Drivers of the CRM Stock Move

• Main Catalyst: A single put contract at the $250 strike expiring September 18, 2026 printed with a volume of 2,650 contracts, generating $1,749,000 in total premium. The contract is currently in the money with CRM trading at $248.57, and open interest saturation stands at 47%.
• Bull Case: CRM is up 2.25% today and has rallied significantly off its 52-week low of $147.58, reflecting strong underlying momentum. The stock is within striking distance of its 52-week high of $269.11, suggesting the broader trend remains constructive for bulls despite the put activity.
• Bear Case: The $1,749,000 put contract is in the money with the $250 strike sitting above the current price of $248.57, signaling that a sophisticated trader is positioning for downside or hedging a long position ahead of the September 18 expiration. At 47% open interest saturation, this contract carries meaningful weight in the options chain.

With only one week remaining until the September 18 expiration, the clock is ticking on this position. The in-the-money status of the $250 put means the contract currently has intrinsic value, and the trader behind it either expects CRM to remain below $250 through expiry or is using it as a near-term hedge against long equity exposure. Today's 2.25% gain adds pressure to this bearish bet, but the expiration is close enough that any reversal in momentum over the next five trading sessions could prove decisive. Traders will be watching closely for any macro or sector catalysts that could shift sentiment in enterprise software heading into the back half of September.

CRM Unusual Options Activity

One unusual options contract was flagged in CRM today:

• Type: Put | Strike: $250 | Expiry: September 18, 2026 | Volume: 2,650 contracts | Open Interest: 47%

This is the only contract flagged, with zero call contracts reported. The one-sided flow, entirely on the put side with $1,749,000 in total premium, underscores a directional bearish or hedging stance rather than a neutral spread strategy. The in-the-money positioning with just seven days to expiration suggests urgency behind the trade.

CRM Seasonality

Mid-September has historically represented a period of elevated volatility across the technology and software sector as quarterly positioning resets and funds rebalance heading into the final stretch of Q3. A short-dated in-the-money put expiring September 18 aligns with this seasonal pattern of near-term caution.

CRM Relative Performance

CRM's 2.25% gain today places it in solid standing relative to broader market benchmarks, and its recovery from the 52-week low of $147.58 to the current level of $248.57 represents a substantial move of more than $100 per share over the past year. With the 52-week high at $269.11, CRM is trading approximately 7.6% below that peak, leaving room for further upside if the current session's momentum carries forward.