Bullish Case: Bullish outlook on PIE due to potential economic recovery in emerging markets and recent inflows into momentum stocks. This sentiment is buoyed by high implied volatility suggesting significant price movements ahead.

Bearish Case: Bearish sentiment driven by continuing geopolitical tensions and fluctuating inflation, alongside high implied volatility indicating potential downside risks. Concerns about sustained market corrections weigh heavily on investor sentiment.

Potential Outcomes:

• Economic Recovery (35%): Targeting $25 with robust growth supports.
• Stabilization of Inflation (30%): Gradually increasing to $22.
• Geopolitical Tensions Rise (15%): Dropping to approximately $18.
• Market Correction (10%): Severe downturn to $15.
• Regulatory Issues (10%): Affects trading dynamics.

Trading Oracle: Consider a long call debit spread on PIE options, utilizing the 01/17/2025 20.00 C and 21.00 C strikes. Enter at $1.25, leveraging expected volatility and market recovery, maximizing reward-to-risk amid bullish sentiment.

December 21, 2024