If options were exercised yesterday, shouldn't we know today?

------

So what would explain the sudden drop in price? if you exercise an option, that shouldn't show up on Level II as a bid price, right? would Cannacord have done some small dumping to take out stop losses in order to then scoop up a bunch of shares for an immediate markup to broker the sale to the exercising party? Just trying to understand why there would necessarily be a price drop associated with an exercise of shares that were being created out of thin air due to an authorization.