This paper discusses and relates two puzzles for indicative conditionals: a puzzle about indeterminacy and a puzzle about triviality. Both puzzles arise because of Ramsey's Observation, which states that the probability of a conditional is equal to the conditional probability of its consequent given its antecedent. The puzzle of indeterminacy is the problem of reconciling this fact about conditionals with the fact that they seem to lack truth values at worlds where their antecedents are false. The puzzle of triviality is the problem of reconciling Ramsey's Observation with various triviality proofs which establish that Ramsey's Observation cannot hold in full generality. In the paper, I argue for a solution to the indeterminacy puzzle and then apply the resulting theory to the triviality puzzle. On the theory I defend, the truth conditions of indicative conditionals are highly context dependent and such that an indicative conditional may be indeterminate in truth value at each possible world throughout some region of logical space and yet still have a nonzero probability throughout that region.