∙ U.S. and Israel launched coordinated strikes across Iran including Tehran – Trump called it “major combat operations” under Operation Epic Fury
∙ Iran retaliating with missiles at Israel and U.S. bases across the Gulf – Qatar, UAE, Kuwait, Bahrain, Jordan all reporting explosions
∙ IRGC has radioed closure of the Strait of Hormuz – roughly 20% of global oil supply transits this chokepoint
∙ Bitcoin dumped 6% to $63,000 as the only liquid risk asset trading over the weekend – $515M+ in liquidations
∙ JP Morgan estimates full Hormuz blockade could push oil past $120-130/barrel – currently around $70
∙ Stock and bond markets closed until Sunday night futures – Monday’s open is where the real repricing begins
∙ I’ve been warning about the seasonal crash window – this is exactly the kind of catalyst that turns corrections into crashes

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FINRA finally decided that requiring $25,000 to day trade was about as useful as a chocolate teapot.
Replaced with intraday margin based on real-time position risk.
Awaiting SEC approval – earliest rollout early 2026.
Brokers can still set higher limits, so it’s not a total free-for-all.
Translation: Retail traders finally get through the velvet rope, but the market DJ still plays risk management on repeat.