Adobe (ADBE) Options Signal Aggressive Bullish Play: $340 Call OI Surges as AI Acquisition Drives Volatility

• Adobe’s $1.9B Semrush acquisition targets AI-driven SEO growth
• Options data shows 247K call OI vs 209K puts, with heavy call interest at $340–$350 strikes
• RSI at 36.3 suggests oversold conditions, but 200D MA at $374.93 looms as key resistance

Adobe’s stock is dancing on a tightrope today. The $1.9 billion Semrush acquisition has traders buzzing, but technicals tell a mixed story. Here’s what the options market and charts are whispering: upside potential exists, but only if Adobe cracks $331.34.

The Battle of Bull and Bear at the Options Chain

Let’s start with the numbers that scream "pay attention." The put/call ratio for open interest is 0.84, meaning calls dominate by a solid margin. But it’s the strike prices that really tell the tale. For this Friday’s expiration (2025-11-28), the $340C and $350C options have 1,420 and 1,318 open contracts respectively—nearly double the next highest call. That’s not just noise; it’s a vote of confidence from institutional players.

The puts aren’t ignored, though. The $310P and $320P strikes have 1,109 and 729 open contracts, suggesting some hedging at the $310–$320 support zone. But here’s the rub: the 30D moving average sits at $335.88, and the 200D MA is a stubborn $374.93. If Adobe can’t break above $335.88, those bullish calls might expire worthless.

Why the Semrush Deal Matters for Traders

Adobe’s move to buy Semrush isn’t just a headline—it’s a strategic pivot. Semrush’s generative SEO tools could become a $1B+ revenue engine, especially as AI reshapes search. But here’s the catch: the stock is still 36% off its 52-week high. The market isn’t pricing in the full value of this acquisition yet.

Think of it like a car with a new engine but old tires. The tech is there, but execution matters. If Adobe integrates Semrush smoothly, we could see a re-rating. But if the integration stumbles, the $310–$320 support zone (aligned with the lower Bollinger Band at $310.89) might not hold.

Actionable Trade Ideas for ADBE

For options traders, the $340C (2025-11-28) is a high-conviction play. Why? Because the open interest suggests smart money is positioning for a post-earnings pop. If Adobe closes above $335.88 by Friday, this call could see a 20%+ move. For a longer-term bet, the $360C (2025-12-05) offers leverage if the stock breaks out after the acquisition’s first-quarter impact.

On the stock side, here’s a concrete setup:

• Entry: Buy ADBE near $321.52 (today’s intraday high) if it holds above $318.73 (previous close)
• Stop: Below $315.62 (today’s low)
• Target: $335.88 (30D MA) as the first hurdle, then $351.79 (upper Bollinger Band)

For the cautious, a $310P (2025-11-28) could hedge downside risk. If Adobe gaps down, this put offers protection without tying up too much capital.

Volatility on the Horizon: Balancing AI Optimism with Technical Headwinds

The next 72 hours will be critical. Adobe’s stock is caught between bullish catalysts (Semrush integration, AI-driven SEO demand) and bearish technicals (200D MA resistance, bearish Kline pattern). The options market is pricing in a 15% move by Friday—either way.

Here’s the bottom line: ADBE is a high-risk, high-reward trade. If you’re bullish on AI’s role in digital marketing, the $340C offers a leveraged bet. But don’t ignore the $310–$320 support zone. A breakdown there could trigger a test of the $310.89 lower Bollinger Band. Watch the 30D MA like a hawk—it’s the line between a breakout and a breakdown.

And remember: this isn’t just about numbers. It’s about Adobe proving it can execute on its AI vision. The market will reward that. Or punish it. The next few weeks will tell which.