Then analyzing the options chain and the chart patterns of ABBV AbbVie prior to the earnings report this week, I would consider purchasing the 160usd strike price Calls with an expiration date of 2024-3-15, for a premium of approximately $7.55. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Trade closed: target reached
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ABBV traded at 172.85 after earnings, and the calls went up from $7.55 (when I wrote this article) to $10.80 at the close on friday (a lot higher intraday), for about 40% gain!