My wife was driving on the interstate at ~ 80 MPH when her left rear TPMS warning lit up, she said she watched the tire pressure start dropping and pulled over. She said the pressure dropped from 35 to 7 in about 20 seconds. When I got there to put the spare on, I could see the two lines on the pavement from where the rim was pressing directly on the rubber on the road - I could see this for a short distance. There is wear on the letters, but no discoloring that I can see. The tires are about 2 months old - 265/35/18 Continental Contisomething or another. I have the free tirerack road hazard warranty, but it sounds like a hassle to go through the process without obvious drastic damage, and I can't do anything with it quickly. It looks like a nail or screw punctured the tire and then came out. The hole itself looks easily repairable. I'm looking for some guidance as to whether I should just plug it (quickest), order a replacement tire from Tire Rack and then possibly try to retroactively go through the tirerack roadhazard process (not as quick), or maybe take it somewhere to have it patched (do people still do that?) and have them evaluate it - I just don't know where I would get an objective opinion. The tire was not particularly expensive compared to any risk with my wife and kids in the car. Thanks!