Henry Obegi Research

Iran Strike: Market Impact Analysis

Geopolitical Scenario Analysis | February 28, 2026
For internal use only

Conclusion

Historical precedents show markets recover within 3-6 months after Middle East military events (median 1Y return: +10.2%). The portfolio is 76%+ in positions that are neutral-to-positive in this scenario. The main risks are concentrated in Alibaba (6.9%), Tencent (3.8%), Taiwan Semiconductor (2.3%).

Action Items by Trigger

TriggerActionUrgency
Strike announced (Day 0) Trim BABA by 40% (from 6.9% to 4.1%), trim Tencent by 40% (from 3.8% to 2.3%) Immediate
Oil spikes above $100/bbl Deploy $1,000,000 from bonds into energy (XLE or top DB picks) Within 1 week
VIX spikes above 25 Deploy $500,000 into VIX puts (hedging position) Within 1 week
Strait of Hormuz threatened Trim TSM by 50% (from 2.3% to 1.1%), move proceeds to cash Immediate
Markets drop 10%+ from peak Deploy remaining $2,000,000 bond capital into index ETFs (QQQ, IVV) Within 1 month
Diplomatic resolution Unwind hedges, restore trimmed positions to original weights Within 1 week
6%
Positive Impact Weight
19%
Neutral Weight
51%
Slight Negative Weight
24%
Negative Weight
$5,000,000
Bond Capital Available

Market Regime

Current Market Regime NORMAL
VIX Level 19.9
SPY Drawdown from 252d High -0.0%
Historical Median 1Y Return After Geopolitical Events +10.2%
Median Recovery Time 131 trading days
Probability-Weighted 1Y Outcome (Monte Carlo) +8.4% (90% CI: -19.9% to +33.2%)

Scenario Probabilities

ScenarioProbabilitySPY Median 1Y Oil ShockRecovery
Limited Strike 25% +8.3% +15% 21d
Escalation 20% +5.3% +30% 63d
Full Escalation 10% -0.6% +60% 126d
Diplomatic Resolution 35% +13.2% -8% 5d
Prolonged Conflict 10% -6.6% +80% 252d