Earlier in the awards season, I thought about writing a piece explaining why I was worried about Glenn Close’s Oscar chances for “The Wife.” At the time, she was leading the overall odds – but all of us knew that she was on very shaky ground. As the weeks have passed, Close has fallen into second place. Many have all but written her off. A seventh Oscar loss would make her the sole biggest loser among actresses, a title that she currently shares with Deborah Kerr and Thelma Ritter. While that would certainly give her a distinction, it’s not exactly an honor.

But before closing the door on poor Glenn, I urge you to exercise caution. She’s not out of the race, not by a long shot. In fact, I now believe that she’s finally headed for Oscar glory. Here are five reasons why she will win the Best Actress Oscar for “The Wife.”

1. She’s Glenn Close.

She’s an artist. An icon. An institution. Her career spans almost half a century – with toiling in theater, film and television. She earned a Best Supporting Actress Oscar nomination for her big screen debut in 1982’s “The World According to Garp.” Subsequent bids for 1983’s “The Big Chill” and 1984’s “The Natural” would make it three in a row. Her cinema success made it only natural for her to graduate to leading lady status. She killed it in 1987’s “Fatal Attraction” and was dangerously delicious in 1988’s “Dangerous Liaisons.”

While neither provided a liaison with the Best Actress Oscar, she established herself as one of the biggest female stars of the decade. She’s continued to work steadily across all mediums since, amassing a collection of three Tony Awards and three Emmys. Her additional film repertoire includes blockbusters like 1996’s “101 Dalmatians” and 1997’s “Air Force One,” as well as acclaimed indies like 2011’s “Albert Nobbs” – which delivered her sixth and most recent Oscar nomination.

Most of her American contemporaries, like Sally Field, Diane Keaton, Jessica Lange, Susan Sarandon, Sissy Spacek and Meryl Streep, have all been duly (and even doubly or triply) recognized. The academy will realize that Glenn Close has been the bridesmaid for far too long. They can finally change that by saying “I do” to her work in “The Wife.”

PREDICT the Oscar nominations now; change them until January 22

2. She’s excellent in “The Wife.”

Speaking of “The Wife,” it’s hardly her best movie or even her most notable performance. Nonetheless, she’s exquisite as always. The way that she hides her pain the first half of the picture – she speaks volumes with the simplest of glances. The later scenes where she unleashes her rage are electrifying, the very moments that are Oscars are made of. Will “The Wife” be remembered years from now? Probably not. The late Katharine Hepburn once said, “The right actors win Oscars, but for the wrong roles.” Victory for Close will once again prove Kate correct.

SEE 2019 Oscar screeners: First wave includes ‘The Wife,’ ‘Colette,’ ‘The Kindergarten Teacher,’ ‘Mamma Mia 2’

3. She’ll lose the Golden Globe.

That’s right. Defeat at the Globes will actually work in Close’s favor – for a couple of reasons. First, it will generate the narrative that she’s headed for an inevitable seventh Oscar loss. To borrow a phrase from political punditry, such discourse will serve to “energize her base.” Think of the hundreds and hundreds and hundreds of academy members who have worked with the gracious Glenn, and decide that this has to be her year.

It’s reminiscent of the Best Actress race of 1985, when Geraldine Page in “The Trip to Bountiful” fell to Whoopi Goldberg in “The Color Purple” at the Golden Globes. Suddenly, the talk of Hollywood was how they couldn’t deny Page an unprecedented eighth time. The whole thing worked like a charm. Page’s trip to the Oscars was finally bountiful. Now Close can borrow a page from Page’s playbook.

Furthermore, remember how all four acting winners sailed through the last awards regatta after prevailing at the Globes? Academy members don’t enjoy having to rubber stamp the choices of everyone else. They want to make their own selections, and sometimes prefer to go with the underdog. Glenn going Globe-less will actually make it much more appealing for the Academy electors to choose her as their own golden girl.

SIGN UP for Gold Derby’s free newsletter with latest predictions

4. She’ll win the SAG Award.

It’s going to be close, but I suspect that it will be Close. Again, consider her extensive list of credits in both television and film. She’s been working longer than some of her competitors have been alive. The SAG body has already nominated her eight times and given her a single statuette – for the 2004 TV movie “The Lion in Winter.” They might see this as the season to finally reward her for film. Also, remember that Close is considered an actor’s actor. Tried-and-true thespians may be more inclined to vote for her than someone seen largely as a singer and a celebrity. (Yes, I’m finally going to go there.)

5. She can beat Lady Gaga.

The lineup has yet to be announced, but it appears that we’re headed for a two-horse race. Can Lady Gaga win the derby? Maybe. She’s a huge star and “A Star Is Born” is a smash. Her reviews have been stellar. Applause for her has been nonstop. But is she really the front runner, or is this just the perfect illusion? I lean toward the latter. While Academy members will respect her performance, many will question if the role was that much of a stretch. Wasn’t she just playing herself? Plus, they’ll be giving her Best Song. Will adding Best Actress make them feel shallow? Meanwhile, they have a million reasons to close the deal with Close. I foresee a photo finish. But let’s hope that Lady G has her poker face ready when the academy goes gaga for Glenn, soon-to-be crowned Oscar’s luckiest lady.

DISCUSS All the Oscar contenders with Hollywood insiders in our red-hot forums

Be sure to check out how our experts rank this year’s Oscar contenders. Then take a look at the most up-to-date combined odds before you make your own Oscar predictions. Don’t be afraid to jump in now since you can keep changing your predictions until just before nominations are announced on January 22.