Recent Houthi missile and drone attacks on Riyadh’s King Khalid International Airport in October 2026 have produced the deadliest strikes on Saudi soil in over a decade, prompting extended airport suspensions through at least October 17, widespread flight cancellations, and international advisories from the FAA and EASA. Saudi authorities have issued targeted NOTAMs and safety inspections but have not released a general order closing the Jeddah Flight Information Region to commercial transit, arrivals, or departures. Traders price low odds of such a broad closure by late October or December because Saudi aviation has continued operating at other hubs like Jeddah despite the southern corridor threats. Escalation in Yemen-linked strikes, successful air defense intercepts, or diplomatic de-escalation steps remain the primary variables that could shift implied probabilities before year-end resolution.