ABBV’s Call-Heavy Options Setup and $240 Bullish Pressure Signal Breakout Potential – Here’s How to Play It

• ABBV trades at $232.74, down 1.5% from its 52-week high of $237.57, but sits above its 30D moving average ($226.95) and key support at $228.01.
• Options market shows a 0.80 put/call open interest ratio, with heavy call OI at $240 and $235 strikes, and puts clustered at $227.5 and $205.
• Recent news: AbbVie raised 2025 EPS guidance to $10.61–$10.65, boosted by Skyrizi/Rinvoq growth and FDA approvals for EPKINLY and Rinvoq in vitiligo.

Here’s the takeaway: ABBV’s price dip masks a bullish technical setup and options-driven conviction. The stock is primed for a rebound, but traders must watch the $232.37 intraday low as a critical support level.Bullish Pressure at $240 and the Shadow of Block Trades

Let’s start with the options data—it’s telling a story. The call open interest (OI) at the $240 strike is massive: 1,715 contracts for this Friday’s expiration. That’s not just noise; it’s a price level where big money is betting on a rebound. The next big call is at $235 (705 OI), which suggests a secondary target if the $240 level falters. Meanwhile, puts are concentrated at $227.5 (383 OI) and $205 (268 OI), but the volume is far lighter. This imbalance—calls outweighing puts by a 1.25:1 ratio—hints at a market leaning toward a short-term rally.

But here’s the twist: there’s a block trade lurking. On October 17, a massive 6,138 contracts of the ABBV20251017C230 call were traded, valued at $705,870. That’s not retail activity. It’s a whale-sized bet that ABBV would break above $230 by October. While the stock dipped below that level in November, the block trade’s timing and size suggest a long-term bullish view. If ABBV can retest $230 and hold, it could reignite that bullish narrative.

News Flow: A Tailwind for Bulls

AbbVie’s recent headlines are a goldmine for investors. The company raised its 2025 EPS guidance to $10.61–$10.65, driven by 46.8% growth in Skyrizi and 35.3% growth in Rinvoq. These aren’t just numbers—they’re proof of life in AbbVie’s pipeline. The FDA approvals for EPKINLY in follicular lymphoma and Rinvoq in vitiligo add to the momentum. Each approval opens new revenue streams and reinforces the stock’s value proposition.

But here’s the catch: the market isn’t pricing in all this yet. ABBV’s current price is still below its 200D moving average ($203.11), which means the long-term trend is still intact. The recent dip—partly due to a $1.50/share IPR&D charge in Q3—has created a buying opportunity for those who see through the noise. The key is whether the news flow can push the stock above its 30D support ($228.01) and re-engage the bullish technicals.

Actionable Trades: Calls, Breakouts, and Strategic Entries

Let’s get practical. If you’re bullish on ABBV, the ABBV20251205C235 call (expiring next Friday) is a high-conviction play. With 189 OI and a strike just below the current price, it offers leverage if the stock breaks above $235. The RSI at 83.59 suggests overbought conditions, but the MACD histogram (1.16) and bullish Kline pattern argue for a continuation. A tighter play: the ABBV20251128C240 call (expiring this Friday) for a shorter-term breakout bet. Both options are positioned to capitalize on the $240 OI wall.

For stock traders, the ideal entry is near $228.49 (the upper end of the 30D support range). If ABBV holds above $228, it could rally toward the $235–$240 zone. A stop-loss below $228.01 would protect against a breakdown. The Bollinger Bands also offer a guide: the upper band at $240.64 is a dynamic resistance level. A close above that would validate the bullish case and open the door to a $245–$250 target.

Volatility on the Horizon: What to Watch

The next 72 hours will be critical. ABBV needs to hold above $232.37 (the intraday low) to avoid a test of the $228.01 support. If it fails, the 200D support range ($189.46–$190.94) becomes a long-term risk. But if the stock reclaims $235 by Friday, the call-heavy options chain could trigger a self-fulfilling rally. The block trade at $230 also adds a psychological layer—break above that, and you might see a cascade of call buyers stepping in.

In the broader picture, AbbVie’s pipeline and financial updates are strong enough to justify a longer-term bullish stance. The key is managing short-term volatility while staying aligned with the company’s fundamentals. For now, the $240 strike is the gravitational center of this trade. If bulls can push ABBV there—and hold it—the next leg higher could be on the horizon.