What's next for Larry Hogan?

Cheering crowds, dramatic music, a soaring eagle – all from a guy who is not running for office?

"I think we’re going to be in a period for a while where the governor is gonna sort of tease us a little bit about his political future," Maryland Matters Founding Editor Josh Kurtz said of a video released on social media Tuesday by former Maryland Governor Larry Hogan.

The video touts a website for Hogan’s political organization, An America United. Its release comes after the former governor said he wouldn’t run for Senate or the Republican presidential nomination. It also comes after he recently demurred when asked about a possible third-party bid.

"It’s really not something that I’m considering," Hogan said in an appearance on Fox News Monday.

Still, some aren’t convinced.

"I would be very surprised if Larry Hogan does not enter this race, regardless of what he said," Rep. David Trone, a candidate for Maryland Senate, recently told CBS.

So, what to make of the mixed messages from Hogan?

"I think he’s just kind of, you know, eager to stay in the mix and stay in the conversation," explained Kurtz.

Kurtz said he believes that Hogan won’t run for Senate or the Republican Presidential nomination, however, he thinks there is about a 20 percent chance Hogan launches a third-party bid for either president or vice president, pointing out that the former governor is the national co-chair of third-party group No Labels.

"Hogan is very good at staying in the limelight," Kurtz continued. "It’s something he likes, you know, he just always wants to be kind of relevant. I’m not saying there aren’t political conversations going on about what he might or might not do, but I think there’s no harm in just keeping your name out there, and my guess is that’s the strategy right now."

Attempts to reach both Hogan and An America United weren’t immediately successful.