New developments have emerged regarding the Iran situation. On March 7, according to a report from Iran's Tasnim News Agency cited by Xinhua News Agency, the radar system of the US THAAD anti-missile system deployed in Jordan was hit and destroyed by an Iranian missile. Separately, according to a report from China Central Television, a third US aircraft carrier strike group is reportedly preparing for deployment to the Middle East region. Furthermore, sources from the US side stated that US President Trump has privately expressed "strong interest" in deploying US ground forces inside Iran. Against the backdrop of escalating Middle East tensions, the CBOE Volatility Index (VIX) surged 24% on Friday, reaching its highest level since last April. Investors rushed to buy protective measures to hedge against further declines in US stocks.
There are new movements regarding US aircraft carriers. Citing foreign media reports, China Central Television reported that on the 6th, it was learned that the US Navy's third carrier strike group, led by the USS George H.W. Bush, is preparing to deploy to the Middle East "soon." The specific timing and duration of the deployment have not been announced. In a separate report, US sources claimed that Trump privately expressed "strong interest" in deploying US ground forces inside Iran. The sources indicated that Trump had discussed the idea of deploying ground forces to Iran with aides and Republican officials. While Trump expressed strong interest in the idea, the focus of the related concept is not on a "large-scale ground invasion of Iran," but rather leans towards "deploying a small-scale US military unit for (achieving) specific strategic objectives." The sources also stated that Trump has not made any decisions or issued any orders regarding ground forces. White House Press Secretary Levitt stated in a declaration that day that these sources are not members of the US President's national security team. On the 6th, US White House Press Secretary Levitt stated at a press conference that "the US is steadily advancing the process of controlling Iranian airspace, and it is expected that the US achievable objectives will be completed within four to six weeks." Earlier that day, Trump posted on social media that the US would not reach any agreement with Iran except for "unconditional surrender." Regarding this, Levitt explained that so-called "unconditional surrender" refers to a state where, when the US side determines that Iran no longer poses a threat and all military operation objectives have been achieved, Iran will effectively be in a state of "unconditional surrender," regardless of whether Iran publicly states so. On March 6, the US State Department stated it had approved the sale of approximately $151.8 million worth of munitions and related support services to Israel. The State Department said in a statement that Israel requested to purchase 12,000 BLU-110A/B general-purpose bombs. Secretary of State Rubio determined an "emergency" exists, necessitating the immediate completion of this arms sale to Israel while "bypassing the congressional review process."
Iran: THAAD Anti-Missile System Hit. According to Xinhua News Agency, Iran's Tasnim News Agency reported on the 7th that the radar system of the US THAAD anti-missile system deployed in Jordan was hit and destroyed by an Iranian missile. The report included an image showing damaged military equipment. In a separate report on the 6th, CNN stated that since the US and Israel launched a large-scale attack on Iran on February 28, the network had confirmed, based on satellite imagery, that five locations hosting radar systems across multiple Middle Eastern countries had been attacked by Iran. CNN published several satellite photos in its report. The photos showed that the attacked radar systems were deployed in Saudi Arabia, Jordan, Qatar, and two locations in the UAE. According to a late report on the 6th from Iran's Tasnim News Agency, the Iranian military stated that Iranian missile forces launched missiles at the US aircraft carrier USS Lincoln that night. Iran's Islamic Revolutionary Guard Corps (IRGC) stated on the 6th that it continued to advance the series of military strikes codenamed "True Promise-4," initiating the 24th wave of attacks, carrying out long-range strikes against targets related to Israel and US forces. The Islamic Republic News Agency, citing a statement from the IRGC, reported that the 24th wave of attacks commenced immediately after the previous wave. Missile launches and drone attacks had covered multiple military targets, with three missiles launched towards Tel Aviv, Israel, all hitting their intended targets. "The strike operation was successful, and important enemy targets were effectively suppressed." The report also stated that in the 23rd wave of attacks, the IRGC utilized a new generation of solid and liquid-fuel missiles to strike US and Israeli military bases in several Middle Eastern countries, as well as an advanced technology center, a cybersecurity center, and a military support center in the southern Israeli city of Beersheba.
Panic Index VIX Surges 24%. The escalation of the Middle East situation has triggered a sharp rise in energy prices, impacting expectations for Federal Reserve interest rate cuts. On Friday, the CBOE Volatility Index (VIX) surged to its highest level since last April. Investors urgently purchased protective measures to guard against further declines in the US stock market. On that day, the VIX index rose to 29.49 points, a significant increase of 24%. For most of this year, the index had remained below the 30-year average of 20 points. Even before the US attack on Iran last weekend, hedging activity using stock options was already at high levels. However, as the conflict drove oil prices higher this week, implied volatility reached new peaks. Chris Murphy, Co-Head of Derivatives Strategy at Schawb International Group, stated, "The VIX saw a substantial spike at the close, ending the week at its highest level since early April 2025, as investors rushed to place bets on volatility ahead of the weekend." Ed Tohm, a strategist at CBOE Global Markets, indicated that increased directional uncertainty drove the rise in the VIX. The VIX measures the expected volatility of the S&P 500 index over the next month using pricing data from the S&P 500 options market, where the daily notional contract value traded exceeds $1 trillion. According to Tohm's analysis, the VIX's 6-point gain on Friday was driven by three main factors: approximately one-third of the increase stemmed from the S&P 500's 1.4% decline; another portion came from bearish market positioning, with investors buying put options for downside protection and selling call options; the remaining increase was due to heightened uncertainty about future stock market movements, reflected in the sharp rise of a lesser-known index—the CBOE VIX Volatility Index (VVIX), which specifically measures the volatility of volatility itself. The VVIX rose nearly 25 points on Friday, closing at 140 points, its highest level since April 11, 2025.
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