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CRM 25Δ put IV is 56.3% vs 25Δ call IV 55.2% — measuring downside protection cost.
Salesforce Inc. — 25Δ put/call IV ratio, 60-day trend, and earnings inflation
Salesforce Inc. (CRM) operates in the Information Technology sector and has actively traded listed options. The 25-delta put IV reads 56.3% versus 25-delta call IV at 55.2%, a difference of +1.1pp. The chain is currently showing put skew (downside strikes priced richer), which describes how implied volatility distributes across strikes rather than where the underlying is heading. CRM strategy builder.
CRM shows normal put skew — 25Δ put IV (56.3%) prices 1.1pp above 25Δ call IV (55.2%); the model reads this as a typical downside-demand regime.
Volatility skew measures how the options market prices downside protection (puts) compared to upside (calls). When 25-delta puts cost more than 25-delta calls, the market is paying a premium for hedging — a signal worth understanding before selling premium.
Skew is not a direction predictor. Steep skew can persist for months in calm markets, and flat skew can occur right before a crash. Combine with VRP and IV Rank for context.
See CRM's 60-day skew trend, peer comparison, and full smile shape.
Skew shifts often reveal changing downside demand and hedging pressure. CRM's 60-day trend shows when options-market positioning is shifting.
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Skew shows how much more the options market is paying for downside protection (puts) vs upside (calls). When 25Δ puts cost meaningfully more than 25Δ calls, hedging demand is elevated.
Steep put skew shifts the model to a higher tail-risk regime where naked positions carry more drawdown sensitivity than defined-risk structures.
Skew Ratio = 25Δ Put IV ÷ 25Δ Call IV. Buckets: Flat (<1.05), Normal (1.05–1.15), Elevated (1.15–1.30), Steep (>1.30).ORATS 30-day delta-25 put IV and delta-25 call IV (and ex-earnings variants when within 14 days of an earnings event)
ORATS institutional options data, 60-day rolling history from orats_summaries; updated daily after market close (~6:00 PM ET)
Wave 1 uses static thresholds (1.05/1.15/1.30) — Wave 2 will calibrate per-ticker percentiles. Skew measures positioning and the cost of downside protection, NOT directional prediction. Steep skew can persist for months in calm markets, and flat skew can occur right before a crash.
Salesforce Inc.'s 25-delta put IV is 56.3% versus 25-delta call IV at 55.2%, a difference of +1.1pp. The chain is currently pricing put implied volatility above call implied volatility, which describes how implied volatility distributes across strikes rather than how the underlying is expected to move.
Skew sets the relative IV — and therefore the relative premium — across strikes. With Salesforce Inc.'s current skew regime, short-put premiums collect more, while put spreads cost more on the long-put side. The strategy comparison view shows how this changes the risk and credit profile of common structures across put-side, call-side, and combined wings.
Options skew measures how implied volatility distributes across strikes — specifically, whether 25-delta puts or 25-delta calls carry higher IV. It is a strike-axis observation about Salesforce Inc. options pricing, not a forecast of where the stock is heading. A persistent put skew often reflects steady demand for downside protection; balanced skew reflects symmetric demand for both wings. Skew is one input among several when comparing strike selection on the chain.
Salesforce Inc. is currently showing put skew — 25-delta put IV is above 25-delta call IV. The 25-delta put IV is 56.3% versus the 25-delta call IV at 55.2%, a difference of +1.1pp.
Quantitative screening, not investment advice. Verify with your broker. Disclaimer
Yes — on an implied-volatility basis, Salesforce Inc.'s 25-delta puts are priced richer than 25-delta calls (put IV 56.3% vs call IV 55.2%). This is the more common configuration for equity options and reflects steady demand for downside protection.
Put skew describes a chain configuration where 25-delta put IV is above 25-delta call IV. For Salesforce Inc., it means the options market is pricing downside strikes at richer implied volatility than upside strikes. Put skew is a pricing observation about the chain, not a directional forecast — it is common for equity options to carry persistent put skew regardless of expected price direction.
Neither — skew describes the chain's pricing of relative downside vs upside IV, not the expected direction of the underlying. Salesforce Inc.'s skew can stay steep for months in calm markets or flatten right before a sharp move. Treat skew as positioning context for strike-level pricing, not as a price-direction signal.
Skew sets the relative IV across strikes, which translates into relative premium. With Salesforce Inc.'s current regime, short-put strikes collect richer premium, while put spreads carry a higher long-leg cost. The same dollar credit on different sides of the chain represents different risk profiles when skew is steep.