Proxy (eg arming/inciting a group to attack) attacks don’t count. Damage must violate Iranian territory (including embassies) or a foreign base, but striking a proxy group (like Hezbollah) won’t count.

Surgical retaliation (eg an assassination) will count so long as it occurs in any of the aforementioned domains.

Market won’t resolve til >3 days after close date to account for delay between the event and report (with a prolonged delay should a thereto unsubstantiated allegation emerge). Once resolved, the resolution won’t change even if new information comes to light.

Closes 00:00 May 1st, GMT