ABBV Options Signal Bullish Momentum: Key Strikes and Block Trades Point to $240+ Upside Potential

• ABBV’s price dropped 1.57% to $229.25, but technical indicators and options data suggest a short-term bullish rebound.
• Call open interest dominates at $230 and $240 strikes, while a massive block trade hints at institutional bullishness.
• Bollinger Bands and moving averages align with a potential breakout above $234.95, the intraday high.

Here’s the core insight: options market sentiment and technicals are painting a clear picture of upside potential. Despite today’s dip, ABBV is perched at a critical juncture where call options, block trades, and trendlines all lean toward a rebound. Let’s break down why this could be a setup for traders to act on.

What the Options Chain Reveals About Market Sentiment

ABBV’s options activity tells a story of cautious optimism. For Friday’s expiration, call open interest spikes at the $230, $240, and $250 strikes, while puts cluster heavily at $190, $210, and $220. The put/call ratio of 0.8375 (favoring calls) reinforces that investors are hedging for a rebound rather than a crash.

But here’s the kicker: a block trade of 6,138 contracts hit the $230 call option (ABBV20251017C230) with a turnover of $705K. That’s not retail noise—it’s a whale-sized bet. Why $230? It’s just below the current price, suggesting buyers are positioning for a near-term pop without needing a massive move.

The risk? If ABBV fails to hold above $228 (the 30D support level), the heavy put OI at $210–$220 could trigger a selloff. But for now, the data leans bullish—especially with the RSI hovering near 55.59 (neutral territory) and MACD above its signal line.

No News, But That’s Not a Problem

The lack of headlines about AbbVie is actually a feature, not a bug. Without earnings surprises or drug approval drama, the stock’s direction is being driven by technical positioning and options-driven momentum. That means the market is pricing in its own narrative: a rebound to test the $240 level, where call open interest is already bracing for a fight.

But here’s the twist: if ABBV does break above $234.95 (today’s high), it could trigger a cascade of call options expiring Friday. Traders are watching the $237.50 strike closely too—it’s a smaller OI level but could act as a psychological catalyst.

Actionable Trade Ideas for ABBV

For options traders, the most attractive plays are:

• ABBV20251017C230 (Friday expiry): Buy this call if ABBV rebounds above $228. The block trade here suggests liquidity, and a move to $240 would turn this into a 40%+ gain.
• ABBV20251024C240 (next Friday expiry): A longer-term play if the rebound holds. The $240 strike has 823 OI—enough to avoid slippage but not so much that it’s overpriced.

For stock traders, the key levels are:

• Entry: Consider buying ABBV near $227.83 (the 30D support) if it holds. A close above $229.25 (current price) would confirm strength.
• Targets: First, test the intraday high at $234.95. A break above that could push toward $240, where heavy call OI might create a self-fulfilling prophecy.
• Stop-Loss: Below $225.43 (Bollinger Band middle line) would invalidate the bullish case and expose downside risk.

Volatility on the Horizon

The coming days will test ABBV’s resolve. If the stock holds its support and the Friday calls expire worthless, the path to $240 becomes clearer. But if the $228–$225.43 range breaks, the put-heavy options chain could accelerate a drop toward $210.

This is a classic case of options-driven momentum: the market is already pricing in a rebound, and the block trade at $230 shows big players are betting on it too. The question isn’t whether ABBV can go up—it’s whether it can hold the line long enough for those bets to pay off.

For traders, the setup is there. Now it’s about execution—and watching those key strikes like a hawk.