Iran’s Supreme Leader Mojtaba Khamenei, appointed in March 2026 after his father’s assassination amid U.S.-Israel strikes, has issued attributed statements and held private meetings with officials yet maintained limited public visibility due to reported injuries and security threats during ongoing regional conflict. Trader sentiment on appearance timelines reflects uncertainty over his health, the regime’s preference for controlled messaging via state media, and institutional needs to project continuity without exposing the leader. Key catalysts include scheduled commemorations such as the July 2026 memorial events, potential official addresses, or diplomatic summits that could prompt a verified sighting. Resolution hinges on photographic or video confirmation meeting market criteria, with low-probability scenarios like sudden health disclosures or escalated threats able to shift timing.