CRM options traders are betting on a rebound. Salesforce reported an $11.1 billion quarter this week. The stock is still down more than 30% year-to-date — leaving a gap options bulls are targeting.
CRM carries a short interest of 7.9% of free float. That is meaningful pressure. Yet availability sits at a massive 626%, signalling shorts are not scrambling to cover. The tension between those two forces is exactly where options traders find edge.
Options expiries for CRM run densely through late June and into August. The June 16 contract has open interest at the $204 call strike. That level sits well above current prices. It points to speculative upside bets — not hedges.
NVDA sits at the other extreme. Short interest is just 1.3% of free float. Shares to borrow are effectively unlimited. The chipmaker ETF market hit $10 billion in assets at record speed this month. NVDA options chains run all the way to September 2, the longest runway of any name tracked today.
With NVDA momentum high and shorts minimal, call volume on near-term expiries is the trade to watch. Any pullback in AI sentiment could flip that quickly.
TSLA offers the most active options calendar. It has 26 distinct expiry dates between now and late August. That density reflects persistent two-way flow. Traders are buying both protection and upside — a sign of genuine uncertainty rather than directional conviction.
The broader signal: AI-driven names are seeing call-heavy positioning. Macro risks remain, but options flow is leaning bullish into June.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
