Iran’s denial of US negotiations drops April 7 ceasefire odds to 1%

2 hours ago 2

Iran’s denial of refusing U.S. negotiations in Pakistan has dropped ceasefire by April 7 odds to 1% YES, down from 2% yesterday.

Statements from Iran’s Foreign Minister and Pakistani officials suggest ongoing diplomatic stalemate. The April 7 market isn’t alone in this trend. April 15 odds fell to 6% YES, and April 30 saw a sharper drop to 18% YES. The biggest decline hit May 31, now at 36% YES, a 10-point drop from yesterday.

Markets are active, with 24-hour USDC volume at $430,773. The April 30 market trades nearly $197K daily, and $19,938 can shift odds by 5 points, indicating susceptibility to large trades.

For traders, the denial is more noise than signal. A YES share at 1¢ for an April 7 ceasefire offers high potential payout, but progress is unlikely. Betting on later dates like June 30 at 52¢ seems more realistic, reflecting belief in longer-term resolution. Without mediation from Oman or Qatar, odds won’t improve soon.

Watch for CENTCOM updates or diplomatic moves from intermediaries like Oman. These could shift the market.