ABBV Options Signal Aggressive Bullish Bets at $240 as RSI Suggests a Potential Rebound from Oversold Levels

• ABBV is trading at $222.07 with a 1.09% gain today.

• Options market shows heavy call open interest at $240 strike for Friday expiration.

• RSI at 35.98 indicates oversold conditions, hinting at possible support bounce.

You’ve seen it before — a stock grinding down, testing support levels, and then... a shift. Today, with ABBV ticking up on volume, it feels like that shift might be happening. The question is: is this a rebound, or just a bear trap in the making? Let’s break it down.

Bullish Imbalance at $240 and Quiet Put Action Point to Aggressive Calls

Take a look at the options market — it’s telling a story. This Friday, the top out-of-the-money call is the ABBV20260320C240 option with 9,951 open contracts. That’s not a random number. It’s a signal: someone, or a lot of someones, are betting big on a move above $240 by next week.

By contrast, the put activity is more muted. The top put, at $200, has only 4,053 open contracts. That doesn’t mean there’s no fear — there’s still solid put coverage. But the imbalance here is telling. The market is leaning hard into the upside, even if ABBV is still below the 30D moving average at $227.41.

Block trading has been quiet today — no whales moving massive lots — but the call-heavy open interest suggests retail and institutional players are both stacking up for a potential breakout. If ABBV can hold above $220.72 (the lower Bollinger Band), this could be the spark.

No Major News, But Oversold RSI Could Catalyze a Short-Term Rebound

There’s no major news in the past few days, which means the market is largely reacting on technicals and options-driven momentum. That’s not always a bad thing. ABBV has a history of finding support and bouncing off of it. The RSI is currently at 35.98 — well into the oversold territory. That kind of reading doesn’t last forever, especially in a stock with a strong fundamental base.

Investors are watching the 200D line at $214.59 like a lifeline. If ABBV dips below that, bearish sentiment will likely accelerate. But for now, the price action is more cautious — ranging, yes, but with a subtle tilt upward.

Trade Ideas: Calls at $240 and a Stock Buy at 222 with Stop at 220

If you’re an options trader, the ABBV20260320C240 call is your best bet. It's the highest open interest and sits just above the upper Bollinger Band, a level where ABBV has historically struggled to break. But if it does, the move could be fast and sharp.

For next Friday, the ABBV20260327C245 call is a solid secondary play. It’s not as crowded, but it’s also further out — giving more time for a breakout to play out.

For stock traders, consider a long entry near $222 if the price stays above the lower Bollinger Band at $220.73. A stop loss at $220.65 — just below today’s intraday low — could help manage risk. If ABBV can push above $227.89 (the 30D moving average), you’ve got a green light to hold for a potential run to $230–235.

Volatility on the Horizon as Options Expiry Looms

With Friday just four days away, the market is tightening up. Calls are stacking, puts are trailing, and the put/call ratio is just about even at 0.98. That means no clear consensus — but the slight edge to calls suggests a bias toward the upside.

ABBV isn’t screaming for a breakout. It’s whispering. And for traders who listen, there’s opportunity. But don’t mistake quiet for safety. ABBV is still in a long-term range. This could be a bounce — or the start of a longer uptrend. Either way, the $240 strike is where we’ll see if the story holds.