Although that is correct; the number is no more than a mathematical calculation done by a computer. There is no fundamental information use to calculate the number and is basically flawed from that lack of input. The number also gives no indication of time frame; like 1 month or 10 years. you would gain more information by calculating the option pain price for for each month that call and put options trade. Even that number has to be recalculated from time to time.
Pfizer faces extremely heavy resistance in the $29 area. The stock closed at $28.98 on Dec. 16, 2004 but then then plummeted the next day on news of safety issues in a Celebrex test. Pfizer later recovered to close as high as $28.90 on June 23, 2005 and it also got to the mid-28's for the last time in September of 2006. But that $28.98 close from over eight years ago still stands and must be materially breached on the upside before further upside would be possible.