CRM Options for August 2026 Now Available for Trading
Put Contract Details: The $240.00 put contract has a bid of $27.45, allowing investors to purchase CRM stock at that price while collecting a premium, effectively lowering the cost basis to $212.55.
Potential Outcomes: There is a 61% chance that the put contract could expire worthless, which would yield an 11.44% return on cash commitment, or 11.34% annualized, referred to as YieldBoost.
Call Contract Overview: The $250.00 call contract has a bid of $31.95; if shares are sold at this strike price, it could result in a total return of 16.36% by August 2026, excluding dividends.
Volatility Insights: Both put and call contracts have an implied volatility of approximately 35%, while the actual trailing twelve-month volatility is calculated at 32%.
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Analyst Views on CRM
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- Investor Sentiment Shift: Following earnings calls from tech giants like Microsoft, Google, and Amazon, investor confusion about future directions led to Amazon losing over $300 billion in market cap, reflecting strong skepticism regarding its $200 billion AI investment plan.
- Capital Expenditure Comparison: Google announced an increase in capital expenditures to $175 billion to $185 billion, exceeding the expected $115 billion to $120 billion, indicating a proactive approach in AI despite challenges from slowing ad revenues.
- Changing Competitive Landscape: With Alphabet's ongoing investments and successes in AI, YouTube's user base has grown to 750 million, and Waymo's self-driving business is outpacing Tesla, suggesting a strengthening competitive advantage that may attract more investor interest.
- Mixed Market Reactions: Despite OpenAI and Anthropic's strong performance in AI, Microsoft's Copilot sales have been disappointing, highlighting investor concerns about its future growth and reflecting differing levels of confidence across companies.
- Rating Reaffirmed and Target Set: Stifel Nicolaus reaffirmed a Buy rating on Salesforce (NYSE:CRM) on February 5, setting a price target of $300, indicating confidence in its future growth potential.
- Target Price Downgrade: Piper Sandler adjusted Salesforce's price target from $315 to $280 on February 2 while maintaining an Overweight rating, reflecting a cautious outlook on the software sector.
- Market Outlook Analysis: Piper Sandler noted that narratives around 'seat-compression' and 'vibe coding' could limit valuation multiples, suggesting ongoing pessimism in the software industry.
- Investment Recommendations: While Salesforce shows investment potential, analysts recommend focusing on hyperscaler, consumption, and vertical sub-sectors, with Microsoft and ServiceTitan identified as more attractive investment options.
- Tech Stock Decline: Over the past three months, technology stocks have been on a downward trend, with significant losses among major players in the last week alone, indicating a shift in investor sentiment from growth to value stocks amid increasing volatility.
- Market Performance Comparison: Since Halloween, the Russell 1000 Value index has risen by 8.4%, while the tech-heavy Russell 1000 Growth index has fallen by 3.7%, reflecting a growing preference for value stocks as investors exhibit fatigue towards growth stocks.
- Microsoft Earnings Impact: Following Microsoft's fiscal second-quarter results that exceeded Wall Street expectations, the stock plummeted 11% in a single day due to signs of slowing cloud revenue, marking the largest drop since March 2020 and highlighting the market's sensitivity to tech stock performance.
- Concerns Over AI Technology: Growing concerns about AI technology potentially disrupting the software industry have led to a nearly one-third decline in the IGV Software index since its September peak, illustrating investor caution regarding the future of the tech sector and its economic implications.
- Software Stock Selloff: Wedbush analyst Dan Ives highlighted that Wall Street's selloff of software stocks like Salesforce, ServiceNow, and Microsoft is unprecedented, indicating severe investor skepticism about their relevance in the AI era, which could lead to declining performance over the next few years.
- Historic Decline: Ives noted that in his 25 years of experience, he has never witnessed such a structural selloff, with software companies being perceived as lacking space in the AI age, reflecting a significant drop in market confidence that could result in a loss of about 5% of customers.
- AI Impact Analysis: While Ives acknowledged that AI disrupts the software industry, he argued that considering software as obsolete is an extreme view, citing Palantir as an example of how software can still thrive in the AI era, demonstrating that there is still room for software to succeed.
- Market Reaction: The stock prices of Microsoft, Salesforce, and ServiceNow have dropped 16.75%, 25.87%, and 30.47% respectively over the past month, indicating a pessimistic outlook from investors regarding the future prospects of these companies and reflecting a waning confidence in the software sector.
- Tech Sector Decline: Over the past week, major tech stocks have suffered significant losses, with AMD down nearly 21% and Intuit down over 17%, indicating a sharp decline in market confidence that could lead investors to reassess their portfolios.
- AI Fatigue Emerges: As investor optimism around artificial intelligence wanes, tech stocks have continued to decline over the past three months, with the Russell 1000 Value index up 8.4% while the tech-heavy Russell 1000 Growth index is down 3.7%, reflecting a shift in market preference towards value stocks.
- Microsoft's Earnings Fail to Boost Stock: Despite Microsoft beating Wall Street expectations in its earnings report, concerns over slowing cloud revenue led to an 11% drop in its stock on the day of the announcement, marking the largest single-day decline since March 2020 and highlighting the fragile confidence in tech stocks.
- Software Industry Challenges: With the rapid advancement of AI technology, there are concerns that AI could replace many software providers at lower costs, resulting in the IGV Software index dropping nearly a third from its September high, signaling intensified competition within the industry.
- Tech Stock Rout: Over the past week, major tech stocks have suffered significant losses, with AMD down nearly 21%, Intuit down over 17%, and Micron down almost 13%, indicating a sharp decline in market confidence that could lead investors to reassess their portfolios.
- AI Fatigue: As investor optimism around artificial intelligence wanes, tech stocks have seen a three-month decline, with the Russell 1000 Value index up 8.4% while the tech-heavy Russell 1000 Growth index is down 3.7%, reflecting a shift in market preference towards value stocks.
- Microsoft's Earnings Fail to Boost Stock: Despite Microsoft exceeding Wall Street expectations in its earnings report, its stock plummeted 11% in one day due to slowing cloud revenue, marking the largest single-day drop since March 2020 and highlighting concerns about the future performance of tech stocks.
- Uncertain Software Industry Outlook: The IGV Software index has dropped nearly a third from its September high, as fears grow that AI technology may replace many software providers at lower costs, intensifying competition in the industry and prompting investors to navigate future uncertainties with caution.











