Salesforce Stock Is Down But Not Out - Shorting OTM Puts for Income Works Here

Salesforce (CRM) stock has taken a hit along with the market. But the stock still looks cheap according to analysts. One way to take advantage of this is to sell short out-of-the-money put options as an income play.

CRM closed at $243.97 on Friday, down $9.09 or -3.59%. Moreover, CRM stock has dropped over 7.1% from $262.71 last Friday. However, this may be overdone.