CRM Covered Call Analysis 2026 IV Rank 56.8%

CRM

Score63 VRP-0.3pp IVR56.8%Earn55d EM±1d$6.48

ViewingCovered Call

›

CRM

Score63 VRP-0.3pp IVR56.8%Earn55d EM±1d$6.48

ViewingCovered Call

Weak edge.Best covered call yields 10.1% annualized on CRM.

Best CC Yield

10.1%

IV Rank: 57%

Premium: $2.27

Delta: 0.19

Earnings: 55d

View alternatives →Full CC screener →

Salesforce (CRM) operates in the Information Technology sector and has actively traded listed options. Among current candidates, the strongest income setup sits at the $210 strike with 44 days to expiration. IV Rank at 57% means call premiums are rich versus the past year. Moderate yield — shorter DTE or closer strikes could improve returns per cycle. See Wheel Strategy for the full CSP-to-CC cycle.

Strike Placement

10.1% ann.

$186

$210

13.2% OTM

Premium: $2.27Protection: 1.2%Expiry: 2026-05-15

★CRM Best Covered Call: $210 Strike, 10.1% Ann.

Ranked #1 of 16 contracts by CC Score — balancing call yield, downside protection, and liquidity.

Premium

$2.27

$227/contract

Ann. Yield*

10.1%

if flat: 1.2%

Strike

$210

13.2% OTM

Expiry

44d

2026-05-15

CC Score

Good

Strengths

✓Safe distance to strike (>5%)
✓No earnings before expiry
✓Elevated IV — rich premiums
✓High open interest (>500)
+1 more

Watch-outs

⚠Low upside compensation — collecting less than 15% of capped upside

Δ 0.19Ret. if called: 14.4%Downside prot: 1.2%IV Rank: 56.8%OI: 5,961

▸ Market Context

✓

IV Rank: 57%Elevated IV = richer premiums for selling. Good conditions.

✗

VRP: -0.3ppOptions are fairly priced or underpriced — limited seller edge.

✓

Earnings: 55 days awayEarnings are distant — safe to sell calls before expiry.

✓

RV Ratio: 1.01Low realized vol vs implied — underlying is calm, good for covered calls.

⚠

Best CC liquidity: OI 5,961, spread 5.7%Adequate liquidity. Use limit orders to get fair fills.

▸ Execution Checklist

Check open price vs. yesterday's close — ensure no overnight gap
Reconfirm bid-ask spread at open — wait for markets to settle
Verify no overnight earnings or news announcements
Use a limit order near the mid price — never market order options
Consider waiting 15 min after open for spread to tighten
Set a GTC close order at 50% of premium collected

This is ★ Top Ranked of 16 contracts across 6 expirations. ↓ Find it below

▶How to use this page

▶How CC Score is calculated

FormulaCC Score = Income (22%) + Safety (18%) + Liquidity (18%) + Quality (14%) + Event (12%) + IV (8%) + Execution (8%)

Inputs

Annualized return, delta, bid-ask spread, open interest, earnings proximity, IV rank, DTE

Data source

VolRadar proprietary composite score using ORATS chain data

Limitations

CC Score optimizes for income generation, not total return. Covered calls cap upside — stocks that rally strongly will underperform a buy-and-hold approach. Past CC returns do not predict future yields.

Full methodology details →

All CRM Covered Call Opportunities — 16 Strikes Ranked

Every covered call strike sorted by CC Score. Higher score = better risk-adjusted income potential.

★ = Highest risk-adjusted CC Score across all expirations and strikes.

2026-04-109d2 strikes · avg 30.9% yield · avg score 60

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$195	0.17	$0.81	17.7%	5.5%	5.1%	745	61
$190	0.33	$2.02	44.0%	3.5%	2.4%	390	59

2026-04-1716d4 strikes · avg 35.8% yield · avg score 65

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$190	0.39	$3.73	45.8%	4.4%	2.4%	1,365	67
$200	0.16	$1.04	12.8%	8.3%	7.8%	7,213	67
$195	0.26	$2.04	25.1%	6.2%	5.1%	2,943	64
$188	0.46	$4.83	59.3%	3.6%	1.0%	643	61

2026-04-2423d3 strikes · avg 19.3% yield · avg score 59

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$200	0.22	$2.08	17.8%	8.9%	7.8%	433	61
$205	0.15	$1.22	10.4%	11.1%	10.5%	771	59
$195	0.31	$3.48	29.7%	6.9%	5.1%	225	58

2026-05-0130d2 strikes · avg 35.2% yield · avg score 59

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$190	0.44	$6.30	41.3%	5.8%	2.4%	91	59
$195	0.35	$4.45	29.2%	7.5%	5.1%	80	59

2026-05-0837d1 strikes · avg 28.6% yield · avg score 59

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$195	0.37	$5.38	28.6%	8.0%	5.1%	15	59

2026-05-1544d4 strikes · avg 23.8% yield · avg score 72★ TOP PICK

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$210★ TOP	0.19	$2.27	10.1%	14.4%	13.2%	5,961	74
$200	0.31	$4.58	20.4%	10.2%	7.8%	4,439	73
$195	0.38	$6.25	27.9%	8.4%	5.1%	4,390	72
$190	0.46	$8.22	36.8%	6.8%	2.4%	26,657	70

*Annualized yield assumes hold to expiration with no early assignment. Actual results may vary.

▼ Risk Summary

Max assignment loss: If CRM drops to $0, max loss = $18,559 per contract minus premium collected.

Covered calls cap your upside at the strike price. If CRM rallies above the strike, you miss gains beyond that level.

View in CC Screener →Wheel Strategy →Strategy Builder →Premium Selling →

Analysis byVolRadar Research·Methodology·Quantitative screening tool

Quantitative screening, not investment advice. Verify with your broker. Disclaimer

Best covered call strikes reviewed

NextWheel Strategy— Full CSP→CC cycle Strategy Builder— Compare strategies

CRM Covered Call: Modest Premium Environment

Salesforce's best covered call currently offers 10.1% annualized at the $210 strike. Premiums are relatively thin in the current IV environment. Shareholders may consider shorter DTE expirations to accelerate theta decay or wait for IV expansion before initiating new covered call positions.

Conservative Strike Selection for CRM

The top-ranked Salesforce covered call uses a delta of 0.19, placing it in the conservative range (below 0.20). This means roughly 81% probability of expiring OTM. Conservative strikes collect less premium but preserve more upside potential and reduce assignment frequency.

How CRM Covered Calls Are Ranked

VolRadar's CC Score ranks every Salesforce covered call opportunity from 0 to 100 across seven weighted dimensions: Income potential (22%), Safety (18%), Liquidity (18%), Underlying Quality (14%), Event Safety (12%), IV Opportunity (8%), and Execution Quality (8%). The score updates daily after market close, reflecting the latest option chain data.

FAQ

What is the best covered call for CRM right now?▾

The top-ranked covered call for Salesforce is the $210 strike expiring 2026-05-15 (44 DTE), offering 10.1% annualized return with a delta of 0.19. It earns a CC Score of 74 out of 100. Data is updated daily after market close.

What delta levels are available for CRM covered calls?▾

For Salesforce, delta 0.20–0.30 is a common range for covered calls. This gives 70–80% probability of the option expiring worthless while collecting meaningful premium. Lower delta (0.15–0.20) is more conservative, while 0.30–0.40 generates more income but has higher assignment probability.

How does the CC Score work for CRM covered calls?▾

The CC Score (0–100) ranks covered call opportunities across 7 dimensions: Income potential (22%), Safety (18%), Liquidity (18%), Underlying Quality (14%), Event Safety (12%), IV Opportunity (8%), and Execution Quality (8%). Higher scores mean better risk-adjusted opportunities. Sort by CC Score to find the best strike and expiration combo for Salesforce.

Are weekly or monthly covered calls better for CRM?▾

Weekly covered calls (7–14 DTE) offer faster theta decay and more flexibility but require active management. Monthly covered calls (30–45 DTE) balance time premium with less frequent rolling. For Salesforce, current elevated IV makes both viable — weeklies capture the rich premium faster. The CC Score ranks both DTE ranges so you can compare directly.

What is the main risk of running a covered call on CRM?▾

The primary risk is capped upside: if Salesforce rallies sharply, you are obligated to sell at the strike price and miss gains above it. At the current top-ranked $210 strike (13.2% OTM), any rally beyond that level means you sell shares below market price. To contextualize: covered calls are best suited for sideways-to-mildly-bullish outlooks. If you expect a significant move higher, consider waiting to sell the call or using a wider strike. The CC Score penalizes strikes with elevated event risk to help you avoid the worst setups.

How does DTE affect CRM covered call returns?▾

The top-ranked Salesforce covered call has 44 DTE, beyond the typical 30–45 day sweet spot. Longer-dated calls collect more total premium but have slower theta decay per day and more exposure to price moves. Consider whether you want to commit shares for that duration, and compare the annualized yield against shorter expirations in the table.

Free embeddable tool: IV Rank Gauge — add live IV data to any site. No signup, no API key.

›

Weak edge.Best covered call yields 10.1% annualized on CRM.

Best CC Yield

10.1%

IV Rank: 57%

Premium: $2.27

Delta: 0.19

Earnings: 55d

View alternatives →Full CC screener →

Strike Placement

10.1% ann.

$186

$210

13.2% OTM

Premium: $2.27Protection: 1.2%Expiry: 2026-05-15

★CRM Best Covered Call: $210 Strike, 10.1% Ann.

Ranked #1 of 16 contracts by CC Score — balancing call yield, downside protection, and liquidity.

Premium

$2.27

$227/contract

Ann. Yield*

10.1%

if flat: 1.2%

Strike

$210

13.2% OTM

Expiry

44d

2026-05-15

CC Score

Good

Strengths

✓Safe distance to strike (>5%)
✓No earnings before expiry
✓Elevated IV — rich premiums
✓High open interest (>500)
+1 more

Watch-outs

⚠Low upside compensation — collecting less than 15% of capped upside

Δ 0.19Ret. if called: 14.4%Downside prot: 1.2%IV Rank: 56.8%OI: 5,961

▸ Market Context

✓

IV Rank: 57%Elevated IV = richer premiums for selling. Good conditions.

✗

VRP: -0.3ppOptions are fairly priced or underpriced — limited seller edge.

✓

Earnings: 55 days awayEarnings are distant — safe to sell calls before expiry.

✓

RV Ratio: 1.01Low realized vol vs implied — underlying is calm, good for covered calls.

⚠

Best CC liquidity: OI 5,961, spread 5.7%Adequate liquidity. Use limit orders to get fair fills.

▸ Execution Checklist

Check open price vs. yesterday's close — ensure no overnight gap
Reconfirm bid-ask spread at open — wait for markets to settle
Verify no overnight earnings or news announcements
Use a limit order near the mid price — never market order options
Consider waiting 15 min after open for spread to tighten
Set a GTC close order at 50% of premium collected

This is ★ Top Ranked of 16 contracts across 6 expirations. ↓ Find it below

▶How to use this page

▶How CC Score is calculated

FormulaCC Score = Income (22%) + Safety (18%) + Liquidity (18%) + Quality (14%) + Event (12%) + IV (8%) + Execution (8%)

Inputs

Annualized return, delta, bid-ask spread, open interest, earnings proximity, IV rank, DTE

Data source

VolRadar proprietary composite score using ORATS chain data

Limitations

Full methodology details →

All CRM Covered Call Opportunities — 16 Strikes Ranked

Every covered call strike sorted by CC Score. Higher score = better risk-adjusted income potential.

★ = Highest risk-adjusted CC Score across all expirations and strikes.

2026-04-109d2 strikes · avg 30.9% yield · avg score 60

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$195	0.17	$0.81	17.7%	5.5%	5.1%	745	61
$190	0.33	$2.02	44.0%	3.5%	2.4%	390	59

2026-04-1716d4 strikes · avg 35.8% yield · avg score 65

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$190	0.39	$3.73	45.8%	4.4%	2.4%	1,365	67
$200	0.16	$1.04	12.8%	8.3%	7.8%	7,213	67
$195	0.26	$2.04	25.1%	6.2%	5.1%	2,943	64
$188	0.46	$4.83	59.3%	3.6%	1.0%	643	61

2026-04-2423d3 strikes · avg 19.3% yield · avg score 59

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$200	0.22	$2.08	17.8%	8.9%	7.8%	433	61
$205	0.15	$1.22	10.4%	11.1%	10.5%	771	59
$195	0.31	$3.48	29.7%	6.9%	5.1%	225	58

2026-05-0130d2 strikes · avg 35.2% yield · avg score 59

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$190	0.44	$6.30	41.3%	5.8%	2.4%	91	59
$195	0.35	$4.45	29.2%	7.5%	5.1%	80	59

2026-05-0837d1 strikes · avg 28.6% yield · avg score 59

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$195	0.37	$5.38	28.6%	8.0%	5.1%	15	59

2026-05-1544d4 strikes · avg 23.8% yield · avg score 72★ TOP PICK

Strike	Δ	Premium	Ann. Yield*	If Called	Dist %	OI	Score
$210★ TOP	0.19	$2.27	10.1%	14.4%	13.2%	5,961	74
$200	0.31	$4.58	20.4%	10.2%	7.8%	4,439	73
$195	0.38	$6.25	27.9%	8.4%	5.1%	4,390	72
$190	0.46	$8.22	36.8%	6.8%	2.4%	26,657	70

*Annualized yield assumes hold to expiration with no early assignment. Actual results may vary.

▼ Risk Summary

Max assignment loss: If CRM drops to $0, max loss = $18,559 per contract minus premium collected.

Covered calls cap your upside at the strike price. If CRM rallies above the strike, you miss gains beyond that level.

View in CC Screener →Wheel Strategy →Strategy Builder →Premium Selling →

Analysis byVolRadar Research·Methodology·Quantitative screening tool

Quantitative screening, not investment advice. Verify with your broker. Disclaimer

Best covered call strikes reviewed

NextWheel Strategy— Full CSP→CC cycle Strategy Builder— Compare strategies

CRM Covered Call: Modest Premium Environment

Conservative Strike Selection for CRM

How CRM Covered Calls Are Ranked

FAQ

What is the best covered call for CRM right now?▾

What delta levels are available for CRM covered calls?▾

How does the CC Score work for CRM covered calls?▾

Are weekly or monthly covered calls better for CRM?▾

What is the main risk of running a covered call on CRM?▾

How does DTE affect CRM covered call returns?▾

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