Which phrase completes the thought: "I was really hoping _____ promoted this year?"

The correct completion of the phrase is "I would be promoted this year."

This structure is commonly used to express a desire or expectation about a future event, particularly in a conditional context. The phrase conveys a sense of hope or desire regarding being promoted, which implies a certain level of uncertainty that is expressed through the modal verb "would."

Using "I would be" reflects a polite or hopeful expectation about the promotion, fitting well with the earlier part of the sentence, "I was really hoping," as it communicates a past wish that continues to influence thoughts in the present.

Other options do not align as smoothly with the expression of hope or expectation in this context. For instance, "I'd be" is a contraction that stands for "I would be," but it is less formal and doesn't fit the sentence's desired tone as effectively as the full phrase. "I should be" indicates an obligation rather than a hope, while "I might be" expresses possibility without the same level of expectation or desire. Thus, the phrase with "would" best fits the sentiment being expressed about the hope for promotion.