Options traders are bracing for wild stock-market swings as Trump keeps investors guessing on Iran

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found In One ChartOptions traders are bracing for wild stock-market swings as Trump keeps investors guessing on IranUBS identified record positioning in both long calls and short puts existing in tandemPublished: April 2, 2026 at 11:39 a.m. ETShareResizeListen(3 min)The S&P 500 has seen both sharp rallies and significant declines over the past two weeks. Photo: angela weiss/Agence France-Presse/Getty ImagesIf you’re having trouble figuring out which direction the stock market moves from here, you’re not alone.Options traders, worried about the lack of clarity surrounding the Iran conflict but not wanting to miss out on any gains from a sudden resolution that spurs a major stock-market turnaround, have been hedging their books aggressively in both directions using contracts tied to the S&P 500 SPX. About the Author Gordon GottsegenGordon Gottsegen covers retail investing for MarketWatch.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.