ABBV's Options Show Strong Call Bias at $240–$250: Could a Ranged Bullish Move Be on the Horizon?

• Options activity shows a heavy concentration of calls at $240–$250 and puts at $200–$220.
• RSI is near oversold territory (40.2) and MACD is bearish with a wide histogram.
• Average volume today is 1.67 million, but block trading is quiet, no whale moves.

Here's the core insight: options sentiment is skewed bullish, with heavy open interest at $240 and $250 call strikes. Meanwhile, technicals suggest a ranged consolidation with a possible push toward the 30-day moving average at $227.40. This isn’t a breakout yet—but it could be. And if the stock can hold above the 200-day support at $219.68, we might see a renewed bullish setup.

Betting on a Bullish Breakout: What the Options Say

ABBV’s options market is clearly leaning bullish, with 9,840 open interest at the $240 call and a full 7,697 at $250. That’s more than double the next highest call at $230. On the put side, $200 (4,046 OI) and $210 (3,727 OI) are the most watched, suggesting some hedging at lower levels. The Put/Call ratio of 0.96 is almost even, but call OI is still ahead, and that’s what traders are paying attention to.

This is a classic "options crowd waiting for a breakout" pattern. Traders are positioning for a move above $227–$228, and if ABBV can hold above that, we might see a rally toward $240. The risk? If the stock drops below $220, those bullish bets could turn into losses—and panic selling might follow. That’s why the Bollinger Bands (currently at $237–$219.68) are key. The stock is near the lower band, and a bounce from here could be in play.

No Major News, So What’s Driving the Sentiment?

Interestingly, there’s no recent news driving this move. The last few days have been quiet, and with no earnings or FDA updates, this looks like a pure market sentiment move—likely driven by options activity and investor positioning. In this case, the options market is acting as the news itself. Without real company events, the psychological price levels are where the action is. That’s both a risk and an opportunity.

Actionable Trading Ideas for Stock and Options

Here are the specific setups to consider:

• For stock traders: Look to buy ABBV if it stays above $221 (the intraday low) and shows a bullish reversal pattern. The entry zone is between $221.75 and $222.50, with a first target at $227.40 (30-day MA) and a higher target at $240. Stop loss should be at $220.50.

• For options traders: Consider buying or rolling into the ABBV20260320C240 (2026-03-20 $240 call). It has the highest open interest and is right at the strike where most bullish action is happening. If you want a longer-dated play, the ABBV20260327C245 is positioned just above the 30-day MA and could benefit from a consolidation rally.

• Shorter-term put buyers (for downside protection) might consider the ABBV20260320P210. It’s got strong open interest and a key support level at $210. If the stock dips below $220, this could be a solid hedge.

Volatility on the Horizon: What to Watch

The key to ABBV’s next move is whether the stock can stay above $220. If it does, the bullish momentum and call-heavy options activity could turn into a real rally. If it breaks down, the put-heavy strikes at $200–$220 will see action. With the RSI near oversold, there’s a chance for a bounce—but it’s not guaranteed.

So here’s the takeaway: ABBV is in a tight range, but options data shows a strong bullish bias. The stock is neither breaking out nor breaking down, but the options crowd is clearly leaning toward a ranged bullish push. That means now is a good time to position for a move—just make sure you know where your stops are.

Keep an eye on Friday’s expiration date (2026-03-20) and how those heavy $240 and $250 call options play out. If they get assigned or rolled, it could be a sign the move is real. And if it is, ABBV could be setting up for a meaningful run.