The idiom means facing two equally unpleasant dangerous or risky alternatives, and the entailment captures this by saying that he is caught between two difficult choices where both options will lead to negative consequences.
Context: Mr. Owens had an expression for two things he found equally unpleasant: I'm caught between two difficult choices where both options will lead to negative consequences, he would say.
Hypothesis: Mr. Owens had an expression for two things he found equally unpleasant: I'm between the devil and the deep blue sea,he would say.

Given this context, is the hypothesis true (Yes/No/I don't know)?