Bullish Case: A bullish outlook emerges as HR sees an uptick in demand for outpatient services and continued institutional investment, indicating potential for price recovery. Moreover, volatility data suggests opportunities for profitable long positions in options.

Bearish Case: The bearish case hinges on recent stake reductions by major investors and persistent high implied volatility, which reflects market uncertainty about HR's outlook and could lead to pricing pressures in the near term.

Potential Outcomes:

• 40% chance of price rebound driven by positive leasing data.
• 30% chance of decline due to continued institutional selling.
• 30% probability of price stagnation amidst mixed market signals.

Trading Oracle: Considering high implied volatility, implement a long volatility strategy using debit spreads like HR 20.00 Calls (02/21/25) with a historical win rate pointing towards recovery. Hedge with put options to mitigate downside risk. Focus on a timeframe of 2-3 months for maximum results.

December 05, 2024