TACO's dead; Iran is the day's live risk.

Buy Oil — MarketWatch says the dip-buy playbook broke, but USO's +125% YTD and 5%-below-high position show most of the Iran fear is already in the tape.

Buy Energy equities — A persistent Iran standoff supports energy equities, with XLE just 3% below its 52-week high and +41% YTD, making this a late but still live hedge.

Buy Turkey equities — Turkey becomes the land-route transit hub for Iranian crude; TUR drew a +4.2% bid last session and still trades 14% below its high.

Sell Crude tankers — If Iranian oil moves overland by truck, seaborne tonne-miles fall and tanker rates hit; Frontline's +162% YTD and 2%-below-high price leaves no cushion.

Sell Glencore — Two FT pieces put Glencore at the centre of the $2bn Radiant dispute; GLEN.L fell 3.1% last session and sits 21% below its high, but the credit-loss question isn't fully priced.

Sell High yield — A fresh commodity-trade blow-up feeds credit-loss worry; HYG is 3% below its 52-week high and barely 1% above its low, leaving little cushion if trade-finance losses spread.

Buy Blackstone — Blackstone is the largest secondaries and insurance-linked fundraising machine; FT's structured-financing angle is a direct near-term tailwind, with BX 34% below its high.

Hold MetLife — Traditional insurers face scrutiny if private-credit annuity books wobble, but MetLife at 4% below its high and +21% YTD offers no forced trade.

Watch Apollo — Apollo's Athene is the cleanest blend of private credit and annuity liabilities; FT's liquidity warning and Mark Walter piece argue short, while its structured-financing reporting argues long, so the press is split.

Watch KKR — KKR runs the same insurance-plus-credit playbook and sits 35% below its 52-week high; FT's risk pieces cut against the structured-financing tailwind.

Buy TSMC — A US toolmaker choosing Taiwan for production deepens the island's equipment ecosystem; TSM sits 10% below its 52-week high despite +34.6% YTD, so there is still room.

Buy Semiconductors — Equipment investment clustering supports chip capex; SOXX is +65.5% YTD but 21% below its high after a 3.4% prior-session pop, so the cycle still has legs.

Buy US natural gas — Thin European storage raises LNG export demand, supporting US gas producers; EQT has fallen 6.9% over the week and trades 26% below its 52-week high, an entry that isn't chasing.

Watch Natural gas — Natural gas is the direct expression, but weather makes the direction binary; UNG is up only 1.6% on the week and 39% below its high, so wait for El Niño to resolve.

Buy Greece equities — Index inclusion forces passive buying in the whole Greek market; GREK has 3% left to its 52-week high and +26.5% YTD, so the move has room but isn't early.

Buy National Bank of Greece — Bloomberg names National Bank among the four lenders rejoining Europe's benchmark, a direct forced-flow recipient.

Buy Zscaler — The analyst calls Zscaler the only big-gain candidate left; ZS's +20% one-week pop shows the catch-up is already underway, so use a trailing stop rather than fresh size.

Hold Cybersecurity sector — MarketWatch uses the sector's rally as Zscaler's benchmark; HACK is within 2% of its 52-week high, so hold rather than chase.

Buy Euronext — Euronext is the most obvious scale player if European venue consolidation accelerates; ENX.PA trades 6% below its 52-week high at 17.1x forward earnings, a reasonable entry.

Hold London Stock Exchange — A consolidated continental venue is a threat to London's franchise; LSEG is 20% below its high and down 7.3% YTD, so the market already discounts the trouble.

Buy Chevron — A US-brokered funding deal raises the odds Venezuela's oil licence sticks; CVX sits 3% below its 52-week high at 15.6x forward earnings, so the optionality is cheap.