Bullish Case: EchoStar's strategic partnerships and satellite expansion efforts could drive substantial revenue growth and market share increase, especially with optimistic investor sentiment.

Bearish Case: Regulatory challenges and high operational risks continue to threaten EchoStar's financial stability, with ongoing market saturation limiting growth opportunities.

Potential Outcomes:

• Successful merger (30%) enhances resources.
• Merger failure (40%) damages confidence.
• Jupiter 3 success (70%) boosts capacity.
• Market share loss (40%) depresses stock.

Trading Oracle: Consider a bullish debit spread by buying short-term $28 calls and selling $30 calls. This exploits potential upside amid current high volatility and market optimism. The strategy focuses on enhanced risk management with over 220% potential return, aligning with expected positive price movement from merger developments.

January 29, 2025