Mojtaba Khamenei, Iran's Supreme Leader since March 2026, has issued written messages and decrees on policy and security matters while avoiding verified public appearances amid the ongoing conflict with the United States and Israel. Iranian officials, including the parliament speaker and diplomats, have confirmed private meetings and described him as healthy and active, attributing his low profile to security risks following the February 2026 strikes that killed his father. State media have released undated footage and reports of internal activities, but no live events or official ceremonies have featured him. Trader assessments center on whether heightened tensions or scheduled institutional gatherings could prompt a shift in this approach within the resolution window.