US-Iran hostilities, ignited by US-Israeli airstrikes on February 28 targeting Iranian military and nuclear sites, have featured over 90 US strikes including recent hits on Kharg Island on April 7, alongside reports of special forces ground insertions for downed F-15 pilot rescues. President Trump announced a two-week ceasefire on April 8 to enable diplomacy over Strait of Hormuz access, with Iran accepting amid demands for US withdrawal from the region; however, Tehran's Supreme Leader declared the war ongoing, and Defense Secretary Hegseth affirmed sustained US military presence with readiness for retaliation. Traders weigh ceasefire compliance against escalation risks from violations, ongoing search-and-rescue, or failed talks, with no full-scale ground invasion signaled yet.