The cloud technology company, Salesforce.com, Inc. (NYSE: CRM), is currently trading at $270.90, a 0.2% increase from the previous day. Despite experiencing a decline in its stock price and pulling away from its record high of $318.72 on March 1st, the company remains close to breaking even for the year.
Over the last month, Salesforce.com stock has dropped by 11.6%, prompting an increase in demand for long puts as seen in the 50-day put/call volume ratio of 0.91. This high ratio suggests a bearish sentiment among traders but an unwinding of this pessimism could lead to an upward movement in the stock price.
Furthermore, the stock’s 14-day relative strength index (RSI) of 23.9 indicates that it is currently oversold, potentially signaling a reversal in the near future. With options priced affordably as indicated by the Schaeffer’s Volatility Index (SVI) of 29%, there may be opportunities for investors to capitalize on a potential price increase in Salesforce.com stock
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