I hold ITM 2016 Leaps options so don't get any choice in the matter. Personally, I already hold the homebuilder PHM and bought the WY options for exposure to timber and wood products so I would prefer a pure play WY anyway.
If you're uncertain, remember that you can choose to tender only part of your holdings and end up with shares in both WY and WRECO. You also get a ~10% premium on shares tendered which is a nice incentive to do so. Good luck.