Lebanese president calls for talks with Israel amid ongoing Hezbollah strikes

4 hours ago 15

Lebanese President Joseph Aoun has called for negotiations with Israel to end the conflict, while the IDF continues its strikes on Hezbollah in Beirut. The US-Iran ceasefire odds for April 7 have dropped to 1% YES, down from 2% just a day ago.

Traders see Aoun’s call for talks as a sign of ongoing instability. The April 7 ceasefire odds are negligible. The April 15 market has fallen to 6% from 8%, and the April 30 market is now at 18%, down from 24%.

The trading data reflects this sentiment. With $22,948 in USDC traded for the April 7 market, traders aren’t expecting a quick resolution. Market depth shows it takes $12,367 to move the price by 5 points, indicating decent liquidity but not strong conviction. The largest 24-hour move was a 1-point drop, suggesting cooling expectations for a diplomatic breakthrough.

The call for talks seems unlikely to lead to a ceasefire soon, given ongoing airstrikes. Traders see slim chances for a US-Iran ceasefire by early April. A YES share at 1¢ for April 7 pays $1 if successful, but it requires belief in a quick diplomatic turnaround.

Watch for any actions from intermediaries like Oman or Qatar, or changes in US rhetoric, which could shift market dynamics. Until then, expect little change.