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Bullish Case: Recent price momentum suggests a recovery supported by strong earnings and demand for MillerKnoll's products. Positive movement in call options indicates growing investor confidence.

Bearish Case: High implied volatility in put options and recent flat price action reflect lingering market concerns over potential economic headwinds and sales performance, risking further declines.

Potential Outcomes:

1) 50% chance of stable price growth if earnings remain strong.

2) 30% chance of volatility from macroeconomic pressures affecting margins.

3) 20% chance of steep decline due to significant market shifts.

Trading Oracle: Consider executing a bullish debit spread with long calls at $30 and short calls at $35, aligning with short-term bullish sentiment. Managing risk with this strategy provides a high reward/risk profile amid fluctuating volatility.

August 17, 2024