There is a battle taking place at 22 in PFE. The stock has been knocking on the door since late December, and it making a move once again today.
Given the previous reactions to a push towards 22, probability favors a sell side reaction at this price level. Therefore today’s upside push provides a solid entry price for a bearish position in PFE.
Implied volatility levels are extremely low (21.44% in Apr), but that goes for most of the market at the moment. If you’re looking for a trade opportunity, PFE may fit the bill for you.