Skip to content
Proof of Edge

The market bet Strait of Hormuz traffic would return to normal by May 31. Q said it wouldn’t.

Q saw the market had missed a calendar problem. To recover by May 31, mines, insurance, ships, and routing all had to reset faster than the physical timeline allowed.

The call
Market priced
67%
Q forecast
1%
The edge
The physical reopening path could not clear before the deadline.
Total return if held to resolution
+198.5%
First 7 days
+87%
$1,000 at signal
$2,985

At the April 20 signal price of 33.5¢, a $1,000 NO position would have settled at $2,985 at resolution, before fees and slippage.

How the call developedQ’s forecastBefore signalPolymarket price

Probability the Strait recovers by May 31, %

050100Q’s call heldQ123Q begins watchingApr 2Signal publishedApr 20Last Q updateMay 6Resolved NOMay 31
1Reuters · Washington PostApr 23
Mine-clearance timeline confirmed

A weeks-long mine-clearance estimate made a May 31 traffic recovery hard to square with the physical reopening process.

2The HillMay 6
War-end optimism lifts odds

A possible turn toward ending the war briefly lifted recovery odds, but Q stayed low because the shipping constraints had not cleared.

3NPR · CNBCMay 23
Deal claim briefly lifts odds

Trump said a Hormuz reopening deal was largely negotiated; the market briefly rebounded, then faded as recovery still failed to arrive.

Sources reviewed

Reviewed 268 distinct sources across 99 domains.

Includes maritime intelligence, carrier advisories, wire coverage, and market sources.

WindwardLloyd’s ListIMF PortWatchS&P GlobalReutersNPRCNBCWaPoAxiosMaerskMSCHapag-Lloyd

What Q saw

Q saw a calendar problem. Recovery required the seven-day transit average to reach 60. At the signal, it was near 4.5. Insurance costs were still about five times normal, the US Navy’s mine-clearance effort was unfinished, and fleets diverted around the Cape of Good Hope needed time to return. Those steps had to happen in sequence before May 31.

How Q tested it

Q tracked the conditions that would have made a fast recovery possible. None moved quickly enough before the deadline.

Break conditionWhy it matteredResult
Risk normalized before early MayCarriers could return quickly if insurance and official-risk signals improved.Not observed
Major state-backed lines returned anywayRecovery could happen despite cost and danger if large fleets ignored the risk.Not observed
Traffic recoveredThe market needed transit counts to move toward the 60-a-day threshold.Did not happen fast enough
Signal recordPublished April 20, 2026. Full reasoning archived at app.quotient.social/narrative/strait-of-hormuz-transit-recovery-misses-may-deadline

Quotient Signals is research and information, not financial advice. Markets involve risk, and past performance does not guarantee future results.