Kherson (roughly the same population as Buffalo, NY) just became Ukraine’s first major city to be overrun by Russia.

It will not be the last.

The question on everyone’s mind is: How will this war end?

Will NATO put boots on the ground?

Will Ukraine pull off a stunning upset?

Will Putin steamroll right over Ukraine and a dozen other countries to restore the ancient empire of Rus?

Will Russian billionaires continue to sell their soccer teams to help Ukraine while others post million-dollar bounties for Putin’s capture?

Today we’re going to look at the three most-likely scenarios.

The first two are awful, and the third option is the least likely.