Israeli airspace faces recurrent short-notice closures primarily from Iranian missile and drone barrages or Israeli preemptive strikes amid ongoing regional conflict. In early 2026, multiple closures occurred after US-Israeli operations against Iranian targets triggered retaliatory salvos, with airspace reopening within hours or days once threats subsided. As of November 2026, volatility persists following fresh Israeli actions against Iran, prompting immediate civilian flight bans, air-raid sirens, and defensive intercepts while authorities limit operations at Ben Gurion. Hezbollah rocket fire and Houthi drone threats add secondary risks, though Iran-linked activity remains the dominant catalyst. Traders monitor diplomatic signals, military statements, and scheduled events such as potential further exchanges or de-escalation talks, which could shift implied probabilities for specific closure triggers within the resolution window.