This is where “Holly, Jolly” pivots from mystery to tragedy. While the town searches for Will Byers, Nancy becomes the first person to realize a second teen has vanished. Her desperate, disbelieving call to Barb’s parents is a masterclass in anxiety. Meanwhile, Chief Hopper (David Harbour) and Joyce (Winona Ryder) double down on their investigation, finding a strange, slug-like creature wriggling out of Will’s disembodied “body” (a clever fake-out) and realizing the morgue is hiding something. The core quartet—Mike, Dustin, Lucas, and the enigmatic Eleven (Millie Bobby Brown)—get their most emotionally complex material yet. Eleven, still monosyllabic and feral, begins to bond with the boys, specifically Mike. A quiet scene where she watches the boys play Dungeons & Dragons is surprisingly tender. She isn’t just a weapon; she’s a lost child seeing friendship for the first time.

If the first two episodes asked, “Where is Will?” this one finally answers: He’s trapped in a nightmare, and the door is opening.

Spoilers ahead for Stranger Things Season 1, Episode 3.

Joyce deciphers the message:

Best Moment: The Christmas light communication—a perfect marriage of 80s Amblin wonder and Lovecraftian horror.