Bullish Case: WASH shows potential for a rebound, supported by a high implied volatility that indicates strong market interest and potential positive shifts in investor sentiment, particularly benefiting from institutional backing and a resilient dividend yield.

Bearish Case: Despite dividend support, WASH may struggle with regulatory challenges and economic pressures, as reflected in the high volatility and historical performance, indicating potential for significant downward movement.

Potential Outcomes:

• 25% chance of a 5-10% rebound driven by dividend yield and institutional buying.
• 40% chance of flat growth (0-5%) as the market stabilizes.
• 35% chance of a greater than 10% decline due to economic instability and regulatory scrutiny.

Trading Oracle: Consider implementing a bearish credit spread strategy with WASH 35/30 call options expiring in December 2024. This capitalizes on high implied volatility while hedging against downside risks inherent in the market environment. Monitor earnings announcements for potential timing adjustments; focus on short-term stability.

November 22, 2024