it may but will come back. PFE is a solid company and if dividing it up will be further gains i feel. I just bought some earlier this week and plan on holdilng on as you will get paid while you wait with a good dividend. PFE will be around forever! spinoffs of companies usually do well as far as the research i have done. Look what COP did with a spinoff of PSX. wished i woulda stayed with PSX and both are doing great.
PFE will open .24 lower, but it could erase that in a short while and finish higher than today. Unless your calls were exercised today, you will still have them tomorrow. For my brokerage I wouldn't know until in the morning.