Iran Strikes Jolt Markets as Earnings Season Looms

Geopolitical Shock Hits Energy and Crypto

The day's defining story broke late Thursday. US Central Command confirmed strikes on Iran after an attack on a commercial vessel in the Strait of Hormuz. Markets reacted immediately. Crude oil proxies and energy majors XOM and CVX saw options activity spike across near-dated contracts. Traders bought protection into early July. Bitcoin fell below $60,000 — its lowest in 20 months. COIN carries 12.2% short interest of free float. Bears still have room to press, with availability at 342%.

Short Sellers and Insiders on the Move

Short interest pressure hit several names hard this week. Wolfspeed tops the charts at 130% of free float, with zero shares available to borrow. WaterBridge Infrastructure saw the biggest weekly jump — short interest exploded 54 points to 85.5% of free float. On the insider front, five Applied Materials executives filed sales totalling nearly $87M on June 17. CEO Gary Dickerson led with over $60M. Separately, activist firm Mantle Ridge LP filed an $89.6M purchase in Dollar Tree on June 25 — a bullish signal given the firm already holds a board seat.

Meta Makes a Prediction Markets Move

Meta drew attention after the New York Times reported that Mark Zuckerberg urged the company to explore partnerships with prediction markets Polymarket and Kalshi. That would mark a notable expansion into financial content.

Earnings on Deck

Nike and Constellation Brands both report Monday, June 30. Analysts lifted targets on all three major US airlines — Delta, United, and Southwest — ahead of a strong summer travel season.