Bullish Case: Anticipated blockbuster releases and an expanding global footprint enhance revenue prospects, potentially driving stock price upward from the current $25.835 level, coupled with positive consumer trends in cinema attendance.

Bearish Case: Heightened competition from streaming platforms and uncertainties surrounding box office innovations may negatively affect IMAX's revenue and stock performance, leading to a bearish outlook.

Potential Outcomes:

• High-profile film releases drive revenue (60% chance)
• Increased competition from streaming platforms limits attendance (40% chance)
• Global expansion results in market growth (70% chance)
• Challenges in certain venues impact earnings (30% chance)

Trading Oracle: Given the current implied volatility of options, consider establishing a bullish debit spread by purchasing $27 calls and selling $28 calls with an expiration in January 2025. This aligns well with anticipated movie releases, optimizing risk-reward potential with a high probability of profit.

December 13, 2024