Moderately bullish activity in Salesforce with shares up 1.14%

Moderately bullish activity in Salesforce (CRM), with shares up $2.85, or 1.14%, near $253.01. Options volume roughly in line with average with 25k contracts traded and calls leading puts for a put/call ratio of 0.31, compared to a typical level near 0.97. Implied volatility (IV30) is higher by 0.1 points near 44.19,in the top quartile of the past year, suggesting an expected daily move of $7.04. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Salesforce (CRM) will report earnings after the close on 2025-09-03.Option markets are pricing in a 50% probability of a move greater than 7.06% or $17.86.