Information Technology

Salesforce Inc (CRM) options and signal

Figures as of 28 Sep 2026

CRM is Salesforce Inc, an Information Technology name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
Trade Card	Bear call spread, 18 Dec	25 Sep
IV rank	81 of 100	28 Sep
At the money IV	43.0%	28 Sep
Priced move to 30 Oct	12.0% down, 12.5% up	28 Sep
Call wall and put wall	240 and 220	28 Sep
Signal and the desk's view	Bearish signal, view bearish	25 Sep
Last close	227.27	28 Sep
Next report	2 Dec 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for CRM was a bear call spread expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Bearish, over 45 trading days
Strategy	Bear call spread, credit
Legs	Sell the 260 call, Buy the 290 call
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $6.03
Probability of profit	70%, the option market's odds at expiry, from delta
Max loss	$2,397 per contract
Max profit	$603 per contract
Breakeven	266.03
IV rank at that expiry	85 of 100

Probability of profit is the option market's own odds from delta, not the model's.

Priced on the option chain at the close on 25 Sep 2026.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Options Snapshot

CRM's IV rank is 81 of 100 on 28 Sep 2026.

Figure	Value
IV rank	81 of 100
At the money IV	43.0%, near month, 32 days
Put/call ratio, open interest	0.98
Call open interest, strikes captured near the price	194,000 contracts
Put open interest, strikes captured near the price	191,000 contracts
Cost to trade at the money	Fair, 16.9% of the option's mid price

IV rank is where the at the money IV sits among CRM's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, CRM options priced a move of 12.0 percent down and 12.5 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	4.4%	4.4%	217.17 to 237.37
9 Oct 2026	11	7.0%	7.8%	211.37 to 244.97
23 Oct 2026	25	10.2%	10.9%	204.17 to 251.97
30 Oct 2026	32	12.0%	12.5%	199.97 to 255.77
20 Nov 2026	53	15.0%	16.0%	193.27 to 263.57
18 Dec 2026	81	20.1%	22.1%	181.57 to 277.57
19 Feb 2027	144	25.8%	30.2%	168.57 to 295.87

The range is one standard deviation either side of the close of 227.27, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, CRM's call wall is the 240 strike and its put wall is the 220 strike.

Figure	Value
Call wall, most open call gamma	240
Put wall, most open put gamma	220
Net dollar gamma, calls minus puts	minus $22.86 million
Total dollar gamma, both sides	$152.51 million
Close	227.27

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

Net gamma changes sign at 3 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, CRM's at the money IV is 43.0 percent against 20 day realized volatility of 34.2 percent.

Figure	Value
At the money IV	43.0%
Realized volatility, 20 trading days	34.2%
Realized volatility, 60 trading days	58.7%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	33.7% of 252 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, CRM's at the money IV runs from 42.4 percent at 4 days to 43.6 percent at 144 days.

Days to expiry	At the money IV
4	42.4%
11	42.0%
18	39.9%
25	42.0%
39	43.0%
53	40.6%
81	43.8%
144	43.6%

Far expiries price more volatility than near ones, an upward sloping term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 32 day expiry, CRM's IV ten percent below the price sits 2.9 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	45.8%	+2.9 points
At the money	43.0%	0.0 points
10% above the price	41.1%	-1.9 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, CRM's surface spans 10 expiries out to 144 days, with IV from 39.1 to 48.9 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	75
Lowest IV among them	39.1%
Highest IV among them	48.9%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, CRM has 10 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	42.4%	14,497	20,233
9 Oct 2026	11	42.0%	3,519	4,812
16 Oct 2026	18	39.9%	25,898	28,067
23 Oct 2026	25	42.0%	1,194	2,057
30 Oct 2026	32	43.0%	1,970	2,190
6 Nov 2026	39	43.0%	76	121
20 Nov 2026	53	40.6%	32,381	20,298
18 Dec 2026	81	43.8%	38,875	35,728
15 Jan 2027	109	43.1%	71,292	73,055
19 Feb 2027	144	43.6%	4,163	4,045

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, CRM's largest open interest sits at the 220 strike, with 30,376 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
220	10,573	19,803	30,376
240	15,273	14,595	29,868
200	10,325	18,211	28,536
250	16,479	9,890	26,369
260	20,354	5,491	25,845
230	9,090	14,223	23,313

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, CRM's at the money IV moved from 39.2 percent to 43.0 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	39.2%	43.0%	+3.7 points
Open interest, strikes captured near the price	405,167	384,471	-20,696
Put/call ratio, open interest	0.97	0.98	+0.01

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Since Yesterday in RingMaster The Since Yesterday guide

Changed Hands

On 28 Sep 2026, 58,432 CRM option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	27,824
Puts traded	30,608
Against its recent average	1.0 times
Busier than	6 of its last 20 trading days
Open interest, whole chain	570,186 contracts
Volume to open interest	0.10
Unusual volume flag	Yes, 6 contracts traded well above open interest
Largest flagged contract	The 235 call expiring 2 Oct, 1,354 traded against 573 open

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of CRM's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	197.47	$75.28 million	200	190
21 Sep 2026	236.42	minus $17.55 million	250	240
28 Sep 2026	227.27	minus $22.86 million	240	220

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of CRM was bearish, paper trading.

Figure	Value
Side	Bearish at 45 trading days, signal on
Level above the close	229.81, the swing high of 22 Sep 2026, a close past it runs against the view
Level below the close	154.07, the swing low of 30 Jun 2026
The chart	Sits against the view
Strategy family	Bear call spread (sell a call spread above the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 CRM sat at the 3rd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	81 of 100	Bullish
20 trading days	77 of 100	Neutral
45 trading days	3 of 100	Bearish

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put CRM on the bearish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 of 2
Long	45 day	Bearish	1 of 1

The near timeframes and the long ones were on opposite sides, and the desk states both.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 CRM's bearish signal began that trading day, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	Bearish	3 of 100
24 Sep 2026	None	7 of 100
23 Sep 2026	None	13 of 100
22 Sep 2026	None	11 of 100
21 Sep 2026	None	10 of 100
18 Sep 2026	None	11 of 100
17 Sep 2026	Bearish	4 of 100
16 Sep 2026	Bearish	5 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Signal History in RingMaster The Signal History guide

Sector Split

On 25 Sep 2026, 80 of 187 Information Technology names were bullish and 61 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Information Technology	187	80	61	46

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

CRM closed at 227.27 on 28 Sep 2026.

Figure	Value
Last close	227.27
Change over 5 trading days	-3.9%
Change over 21 trading days	-9.8%
Change over 63 trading days	+43.9%
Change over 252 trading days	-5.7%
52 week high	269.11
52 week low	146.32
20 day moving average	246.67
50 day moving average	214.81
200 day moving average	201.09
RSI, 14 days	45

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

CRM reports next on 2 Dec 2026, a date worked out from past quarters.

Figure	Value
Next report	2 Dec 2026
Date	Worked out from past quarters

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Company Events

CRM filed 1 current report in the 14 days to 28 Sep 2026, the latest on 17 Sep 2026.

Filed	Report	What it covers
17 Sep 2026	Current report	Regulation FD Disclosure

Filings as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 46.0 percent of CRM's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	46.0%
Five day average	47.0%
52 week median	46.0%

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 22 Septembers on record, CRM's average change was plus 1.4 percent, and it rose in 54.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	+1.4%	+0.9%	54.5%	22
October	+4.5%	+7.3%	72.7%	22
November	+2.7%	+1.3%	54.5%	22

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Headlines

The desk's news feeds carried 8 headlines naming CRM in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	8
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

Headlines as of 28 Sep 2026. Current on every plan.

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Questions

What is CRM's IV rank?: CRM's IV rank is 81 of 100 on 28 Sep 2026.
What move are CRM options pricing?: On 28 Sep 2026, CRM options priced a move of 12.0 percent down and 12.5 percent up by 30 Oct 2026.
Where are CRM's call wall and put wall?: On 28 Sep 2026, CRM's call wall is the 240 strike and its put wall is the 220 strike.
What was the latest Trade Card for CRM on the Free plan?: On 25 Sep 2026 the Trade Card for CRM was a bear call spread expiring 18 Dec 2026, paper trading.
When does CRM report earnings next?: CRM reports next on 2 Dec 2026, a date worked out from past quarters.

More Information Technology names

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