ABBV Options Signal Bullish Bias: Key Strike Levels and Trade Setups for Nov 28 Expiry

• ABBV trades at $227.75, down 1.75% from its 52-week high of $232.48
• Options data shows heavy call open interest at $240 and $235 strikes, with a put/call ratio of 0.76
• Technicals hint at a potential rebound near $228 support, with long-term MA200 at $203.50 as a key floor

Here’s the thing: ABBV’s options market is whispering bullishness, even as the stock dips today. The short-term bearish trend clashes with a long-term bullish setup, creating a tightrope walk for traders. Let’s break down what’s really happening.

Where Institutional Money Is Flowing

ABBV’s options chain is packed with clues. This Friday’s expiring calls see 3,149 open contracts at the $240 strike—the highest concentration of call interest. Puts aren’t far behind, with 436 open contracts at $215. The put/call ratio of 0.76 (calls dominate) suggests investors are hedging downside risks while eyeing a rebound.

A notable block trade—ABBV20251017C230 with 6,138 contracts—hints at institutional positioning. While the October 17th expiry is past, it shows big players have been layering in calls around the $230–$240 range. If ABBV holds above $228 (30D support), this could fuel a rally toward $235–$240. But watch the lower Bollinger Band at $211.17—if the stock breaks below $220, the bear case gains steam.

News That Could Tip the Scales

AbbVie’s recent FDA approval for EPKINLY and its rare disease partnerships are major tailwinds. The biotech award collaboration and strong immunology sales position ABBV as a long-term outperformer. Yet insider selling of $41M raises eyebrows. Think of it like a storm cloud over a sunny sky: fundamentals are solid, but short-term jitters linger. Retail traders might be pricing in the FDA wins, while institutions are hedging against patent expiration risks.

Actionable Trade Setups

For options players:

• Buy ABBV20251128C235 (Nov 28 expiry) if ABBV breaks above $228. The $235 strike is a sweet spot—high enough to avoid immediate decay, but within reach if the stock rebounds.
• Sell ABBV20251205P220 (Dec 5 expiry) as downside insurance. The $220 strike aligns with the 20D MA and offers a buffer if volatility spikes.

For stock traders:

• Enter near $228 if the 30D support holds. Target $235–$237.50 (call-heavy strikes) with a stop below $220.
• Alternatively, scale in at $225 if ABBV tests the lower Bollinger Band. The 200D MA at $203.50 is a hard floor to watch.

Volatility on the Horizon

ABBV sits at a crossroads. The options data and technicals agree: a rebound is likely if support holds, but downside risks remain. The key is timing—this Friday’s expirations could trigger a short-term pop, while the December options offer longer runway for a rally. Play it like a chess game: use the Nov 28 calls for quick gains, and the Dec 5 puts to lock in protection. Either way, ABBV’s long-term bulls have plenty to work with—if they can weather today’s dip.

Bottom line: This is a stock with two faces. The bearish near-term trend and insider selling are caution flags, but the options market and fundamentals scream resilience. Trade with the bias, but keep your seatbelt tight.