I understand. I bought puts on a few other securities that looked overbought and they continued to run up. I buy calls and there's a retrace. It looks like I'm not very good at trading options and would be wise to retire. :)
This was manipulation pure and simple. Options expiration and the $26.50 strike as a target. There was no indication premarket, in fact PFE was actually up a nickel. Right at the open the dump happened, why? to force the price lower not profit taking. You would not dump the number of shares that were sold if you are interested in simply profit taking. Notice the dumping stopped when the price dropped below the $26.50 price and then each and every time PFE tried to recover and get above the $26.50 a new wave of selling. They messed up PFE having a good day with the dow up 50 end of day. Someone manipulated this big time,
makes retail have no chance unless you are on the same side and that would just be luck.