ABBV (ABBV) options memo

ABBV Gains 0.38% Despite YTD Lag, Options Signal Bearish

The Read

ABBV is down 0.53% today at $248.76.

Options traders lean neutral into 2026-07-24, and neutral further out.

A move through $247.12 would change how dealers hedge this stock.

Key numbers

• Spot: $248.76
• Lean: conflicted
• Nearest expiry: Fri 8/14
• Implied move: 1.6%
• ATM implied volatility: 31.0%
• Max pain: $247.50
• Pin strike: $255.00
• Gamma flip: $245.95
• Dealer positioning: SHORT GAMMA
• Call wall: $255.00
• Put wall: $250.00
• Put/call open interest: 2.010

Signals

• Options: Max pain drops sharply from $210 near-term to $170 in May expiry. Put/call ratios mixed but declining max pain suggests bearish dealer positioning.
• Price action: ABBV closed up 0.38% at $212.40 but lags YTD with -7.37% performance. ML model predicts upward movement with 71% confidence.
• Fundamentals: Company trades at elevated 87.89x PE with strong revenue growth of 66.4% YoY. Recent earnings beat estimates by 2.75% in Q3.
• News: Limited news flow with 10 headlines over 14 days, mostly routine conference presentations. No recent analyst upgrades or downgrades recorded.