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Option traders moderately bearish in Salesforce with shares down 2.16%

Option traders moderately bearish in Salesforce (CRM), with shares down $5.53 near $250.72. Options volume roughly in line with average with 46k contracts traded and calls leading puts for a put/call ratio of 0.73, compared to a typical level near 0.96. Implied volatility (IV30) is higher by 0.4 points near 44.11,in the top quartile of the past year, suggesting an expected daily move of $6.97. 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 8.71% or $21.85.

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