Saturday, Nov 19, 2005
The Exchange has listed contracts on the USA and/or Israel launching an overt air strike against Iran on or before the time/date specified in the contract.
The contract(s) can be found under:
Current Events> Iran > Israeli/ US Overt Air Strike against Iran.
The contract(s) will be expired at 100 if (including but not limited to):
The USA and/or Israel officially execute an overt Air Strike against land facilities or naval target in Iran on or before 11:59:59pm ET on the date specified in the contract.
The contract(s) will be expired at 0 if (including but not limited to):
There is no such overt air strike executed against land facilities or naval target in Iran, on or before 11:59:59pm ET on the date specified in the contract.
An overt air strike against a land facility or naval target is defined as an air attack officially announced by the Pentagon/ the US Department of Defence or the Israel Ministry of Defense*.
Clarification added August 18, 2006: *, or as independently
reported in 3 reputable media sources such as Wall Street Journal,
Reuters, Bloomberg or similar. Land facilities and naval targets include
military and/or civilian targets. An air strike will be considered to have taken place even if the stated target is not hit, or the mission objective is not achieved. For the avoidance of doubt an air strike does not include ground-based or marine-based (ship or submarine) missile launches.
An overt air strike will not include any covert operations (e.g. Mossad, CIA), accidental border clash, etc.
For a definition of an air strike the exchange will use the military definition as published in Department of Defense Dictionary of Military and Associated Terms:
Air strike: An attack on specific objectives by fighter, bomber, or attack aircraft on an offensive mission. May consist of several air organizations under a single command in the air.
In the event of an air strike being launched before midnight on the expiration date, but not executed until after midnight that contract will be expired at 0 as the ordinance must have been hit in order for the air strike to have occurred.
Clarification Added November 10,2005
If NATO/UN execute an air strike against Iran (within the specified time/date) and there are American and/or Israeli forces involved in this strike the contract will expire at 100.
Due to the nature of this contract please also see Contract Rule 1.9 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account -Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract before you place a trade.