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Iran leadership change by...?

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Bulls Say, Bears Say

Bulls Say

Khamenei's advanced age (85) and US military pressure make a leadership change before year-end plausible

A peace deal with the US could accelerate a reformist leadership transition

40% market price reflects genuine informed-trader belief in a near-term succession scenario

Bears Say

Khamenei has controlled Iran for 35 years and shows no sign of voluntary departure

A forced leadership change requires regime collapse or Khamenei's death — both uncertain year-end timelines

Iran's clerical succession would take months to play out even after a triggering event