Recent diplomatic signals have elevated China as the leading venue for a Trump-Putin meeting. A lengthy October 10 phone call between the leaders addressed energy supplies and Ukraine-related issues, after which Kremlin aide Yuri Ushakov highlighted the November 18-19 APEC summit in Shenzhen as a probable site for an in-person encounter on the sidelines, noting both presidents' interest in attending. This multilateral forum, hosted by China, aligns with prior Kremlin comments on possible bilateral or trilateral talks involving Xi Jinping. Trader pricing reflects the near-term timeline and confirmed attendance expectations, while the secondary "no meeting by year-end" share accounts for scheduling or attendance uncertainties before December 31. Other locations remain distant due to the absence of comparable confirmed diplomatic opportunities.