Saudi Arabia has intensified direct military involvement in Yemen through sustained airstrikes supporting Yemeni government forces in their October counteroffensive to reclaim Red Sea coastal areas and the Bab el-Mandeb Strait seized by Houthis in mid-September. The Saudi-led coalition deployed around 100 fighter jets starting October 5, striking Houthi targets including weapons depots and naval facilities while intercepting incoming ballistic missiles. Recent Houthi drone and missile strikes on Saudi airports, including Riyadh and Abha, have caused civilian casualties and prompted further coalition responses. These developments, amid broader regional tensions involving Iran, have driven trader assessments of elevated risks for additional Saudi strikes or expanded operations in the coming days. Upcoming ground advances by Saudi-backed forces and potential Houthi retaliation could shift probabilities.