CRMSalesforce, Inc.
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $171.2B|NYSE
● 2026-08-24$209.06
NEUTRAL
Analysis: 2026-08-21 EOD data
1Y -15.7%YTD -17.6%7D +6.6%
Options Vol
66,378
30D
Implied Move
±15.8%
IV Rank
35%
CRM Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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CRM Gamma Walls
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CRM Hedge Radar
Neutral
Full Hedge Radar Neither score is at an extreme today. Neither axis is a forecast — this is where CRM sits on protection cost vs. fragility today.
Protection is priced in the fair band (5.47) — near-dated vol is priced 61% above far-dated, and the move being priced is 1.52x this name's own median 19-trading-day move, measured against this name's own rolling 19-trading-day realized moves (485 overlapping windows). Fragility reads resilient (3.01): it is trading 8% above its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.
Protection cost
5.47/ 10fair
Basis: cross_sectional
Fragility
3.01/ 10resilient
Basis: per_ticker
Value
Is IV priced right?
5.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 89.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.05x — IV ≤ HV
Sector Relative≤50%
Sector percentile 60% — above sector median
Term Structure
<1.1xFront/Back 1.61x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 48.9% — normal range
Spread-Adjusted Value
<80%Effective IV 60.2% (ATM 48.9% + spread 5.7% + bias) — good value
Execution Efficiency
<3.0%Total drag 12.08% (spread 5.66% + slippage 6.42%) — high friction
Vega Efficiency
≥5.0Vega efficiency 40.71 (vega 23.043 / spread 5.66%) — efficient
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -2%, Raw: +3%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -2% (neutral) — Raw: +3%
OI Skew Magnitude
≥15%|OI skew| 9.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +13.7%, OI skew +9.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +4%, ATM: -3%, OTM: +6% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 60% — bearish vs sector
Activity
Unusual activity?
3.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/8 checks passed
Volume Surge
≥1.5xVolume 1.0x avg — normal
Turnover Rate
≥15%Vol/OI 7.0% — normal turnover
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change -2.4% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 64% — active vs sector
Trade Quality
≥30%Large trade volume 23% — mixed
Execution Urgency
≥60%Aggressive execution 26% — patient
Flow Conviction
≥30Conviction -2 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.7% — wide
Adequate OI
≥10,000OI 947,742 — deep
Active Volume
≥500Volume 66,378/day — active
Reasonable Cost
≤$0.50$0.28 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 60% — wider than sector
Order Book Depth
≥100 contractsDepth 229.0 contracts (bid:76.5 ask:152.5) — adequate
Execution Quality
<1.0%Avg slippage 6.42% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +60.6% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 90% — seller opportunity
Event Detection
≥10pts kinkIV kink 24.6pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 112.57 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)HIGH RISK: Earnings in 2d (HIGH RISK)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -2% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 53 (ITM 20% + inst 23%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.7
bullishIV fair, mixed flow
Covered Call5.2
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.