Option traders moderately bearish in Salesforce with shares down 0.19%

Option traders moderately bearish in Salesforce (CRM), with shares down 48c near $247.81. Options volume relatively light with 33k contracts traded and calls leading puts for a put/call ratio of 0.52, compared to a typical level near 1.02. Implied volatility (IV30) is higher by 0.4 points near 43.97,in the top quartile of the past year, suggesting an expected daily move of $6.86. 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 7.64% or $18.93.