Adobe (ADBE) Options Signal Bullish Bias at $360–$365: Here’s How to Position for AI-Driven Volatility

• Adobe’s AI Foundry launch and Q3 earnings beat are fueling call-option frenzy at $360–$365 strikes.
• Put-open interest dwarfs calls at $320–$330, hinting at downside risk if pricing pressures persist.
• MACD crossover and RSI neutrality suggest a volatile pivot point near $355.75.
• The big takeaway: Options data and news flow point to a high-stakes battle between AI optimism and pricing skepticism—position accordingly.

Adobe’s stock is caught in a tug-of-war between bullish AI-driven momentum and bearish pricing pressures. Here’s how to navigate the crosscurrents using options and technicals.

Where the Money Is: Call-Heavy Options Signal Rebound Hopes

Let’s start with the numbers. This Friday’s options chain shows a call-heavy concentration at $360 (OI: 1811) and $365 (OI: 1902), with a total put/call ratio of 0.794 (favoring calls). That’s not just noise—it’s a crowd of traders betting Adobe’s AI Foundry and Firefly tools will push shares above $360. But don’t ignore the puts: $320 (OI: 2101) and $330 (OI: 1417) have massive open interest, reflecting fears of a relapse to 52-week lows. The message? Buyers are optimistic, but sellers are bracing for a fight.

The next-week options chain amplifies this tension. $400 calls (OI: 1583) and $340 puts (OI: 879) suggest a longer-term bet on either a breakout or breakdown. No block trades to note—this is retail and institutional money dancing in sync for now.

AI News: A Double-Edged Sword for Traders

Adobe’s AI Foundry partnerships with Disney and Home Depot are undeniably bullish. But here’s the catch: Creative Cloud’s price hike and Google’s AI competition are real headwinds. The stock’s 33.57% drop from its peak shows investors are pricing in risks. Think of it like a storm—AI optimism is the lightning, but pricing pressures are the thunder. The key is whether Adobe’s enterprise AI tools can offset subscription fatigue. Early adopters like Home Depot are a green light, but if Firefly’s credit-based model deters creatives, the $355.75 level could crumble.

Actionable Trades: Calls, Puts, and Precision Entries

For options players, the $360 call (expiring Friday) is a no-brainer if Adobe holds above $355.75. Why? The strike aligns with the 30D support/resistance zone (349.87–350.64) and the 200D moving average (386.41) is still a distant ceiling. A breakout here could trigger a rally toward $370, where the next-week $370 call (OI: 1163) becomes a strategic play.

On the downside, the $330 put (expiring Friday) is a hedge if Adobe’s pricing war with Google intensifies. The 200D support (348.11–350.81) is fragile, and a close below $349.87 could send shares spiraling. For stock traders, consider entry near $349.87 if the 30D support holds—your target is $365, but set a stop-loss at $345 to avoid a freefall.

Volatility on the Horizon: Balancing AI Hype and Reality

Adobe’s future hinges on one question: Can AI Foundry and Firefly justify a rebound from current levels? The technicals are mixed—short-term bullish but long-term bearish. The RSI at 59.93 suggests neutrality, but the MACD histogram’s positive shift hints at a potential reversal. My advice? Treat $355.75 as a living level. If Adobe’s AI partnerships gain traction, this could be a base for a rally. If pricing pressures dominate, it’s a door to $330.

In short, this is a stock at a crossroads. The options market is pricing in both outcomes. Your job? Pick your side and play it smart.