ABBV Options Signal Bullish Momentum: Calls at $235 Dominate as Analysts Back Skyrizi Growth

• AbbVie’s Q3 2025 results show $15.8B revenue, 9.1% YoY growth, and $1.86 EPS—beating estimates by $0.08.
• Options data reveals heavy call open interest at $235 (1,824 contracts) and $240 (1539 contracts) for Friday’s expiry, signaling strong bullish sentiment.
• A $100M partnership with Zelgen Biopharma and upgraded analyst ratings (Morgan Stanley, HSBC) reinforce long-term growth confidence.

Here’s the core insight: ABBV is primed for a breakout. The stock’s 0.08% intraday gain, bullish Kline pattern, and 64.5 RSI suggest momentum is building. But the real story lies in the options market—call open interest is 1.2x higher than puts, and block trades hint at institutional positioning. This isn’t just noise; it’s a setup.

Bullish Sentiment Locked in OTM Calls, Block Trades Signal Institutional Conviction

The options chain tells a clear story. For Friday’s expiry (Jan 2, 2026), ABBV20260102C235 (1,824 OI) and ABBV20260102C240 (1,539 OI) dominate call volume. These strikes sit just above the 30D moving average ($227.95) and within the Bollinger Band upper range ($232.19). Meanwhile, puts at $227.5 (719 OI) and $220 (146 OI) offer limited downside protection, with a put/call ratio of 0.83 (calls outweigh puts by 20%).

But the real kicker? A massive block trade of ABBV20251017C230 (6,138 contracts) in October 2025. While the direction is “unknown,” the sheer volume suggests institutional players are hedging or scaling up ahead of earnings. Combine this with the recent $100M Zelgen partnership and upgraded analyst ratings, and it’s clear: big money is betting on ABBV’s resilience.

News Flow Aligns with Bullish Options Setup

AbbVie’s Q3 results aren’t just numbers—they’re a narrative. Skyrizi’s 46% sales jump to $4.7B and Rinvoq’s 34% growth to $2.2B show the company isn’t just surviving biosimilar competition; it’s thriving. Analysts from Morgan Stanley and HSBC have upgraded the stock to Overweight/Overweight and Buy, citing Skyrizi’s market dominance and Rinvoq’s potential.

But here’s the twist: the news isn’t just about revenue. The Zelgen partnership adds $100M upfront and ties AbbVie to Alveltamig’s oncology pipeline—a sector with high margins and long-term growth. This isn’t a one-trick pony; it’s a diversified play. And when you layer that on top of a 3.0% dividend yield and 70.23% institutional ownership, the stock becomes a magnet for both income and growth investors.

Actionable Trades: Calls at $235, Stock Entry Near $229.94

For options traders, the ABBV20260102C235 (Friday expiry) and ABBV20260109C235 (next Friday expiry) are prime targets. These strikes sit at the intersection of high open interest and technical support (30D MA at $227.95). If ABBV closes above $230.25 (intraday high), these calls could see explosive gains.

For stock traders, consider entry near $229.94 (current price) with a stop-loss at $223.09 (30D support). The first target is $235 (call strike), followed by $237.50 (another OTM call level). The RSI at 64.5 and MACD histogram at 0.617 suggest upward momentum is intact—just don’t let it drop below the 200D MA ($205.99) without a plan.

Volatility on the Horizon: Watch the $235–$237.50 Range

The next 72 hours will be critical. If ABBV holds above $228.84 (intraday low) and breaks $230.25, the $235 call strikes could become a self-fulfilling prophecy. But keep an eye on the $227.50 put strike (719 OI)—if the stock dips below $226.51 (middle Bollinger Band), that could trigger a short-term pullback.

Bottom line: This is a stock with momentum, a strong pipeline, and institutional backing. The options market isn’t just reacting to news—it’s anticipating it. And for traders who act now, the path to $235 looks clearer than it has in months.