Market Watch: Oil traders are pricing in geopolitical risk. Brent crude call options just hit record trading volume on Monday—surpassing the previous peak from June 2025 when tensions between the US and Israel against Iran escalated sharply. The data tells you something: every time Middle East friction spikes, derivative markets move hard. For crypto investors watching macro flows, this matters. When traditional markets get jittery over supply disruptions, institutional capital often repositions across asset classes. The options surge shows real money is hedging upside scenarios. Keep an eye on how this plays out—geopolitical volatility tends to create spillover effects across all risk assets.