Yesterday, Pfizer (PFE) delivered something you’ll rarely see: Its March 20 $29 put had the highest unusual options activity on the day with a Vol/OI (volume-to-open-interest) ratio of 210.16, 35% higher than the Alphabet (GOOG) option in second place.
Pfizer is one of the most frustrating stocks for bulls. Once upon a time, it was printing money thanks to COVID-19. Now, it can’t get out of the $20s. Its shares are down 59% since the 2021 all-time high of $61.71. For those who don’t own PFE, it’s hard to justify the investment.
