<p>Israeli therapists frequently experience shared traumatic reality (STR) during wartime, facing simultaneous personal and professional exposure to collective trauma. While psychological capital, defined as a positive psychological state comprising hope, efficacy, resilience, and optimism, is generally considered a protective resource, its role in mitigating post-traumatic stress disorder (PTSD) symptoms among therapists in such unique, high-stress environments has been underexplored. Addressing this gap, this study aimed to investigate the relationship between personal trauma exposure in STR and PTSD symptoms among Israeli therapists during wartime, and to determine whether psychological capital moderates this association. A sample of 178 mental health professionals (66.7% social workers, 12.7% psychologists, and various other mental health therapists) completed online surveys. Statistical analysis revealed a positive correlation between personal trauma exposure and PTSD symptoms. Contrary to expectations, psychological capital did not buffer this relationship; instead, hierarchical regression analysis indicated that the interaction between personal trauma and psychological capital was significant, showing that the positive relationship between personal trauma and PTSD symptoms became stronger at higher levels of psychological capital. These counterintuitive findings suggest that psychological capital may intensify emotional exposure rather than provide protection in STR. Findings are interpreted through Conservation of Resources theory. The results underscore the complex challenges faced by mental health professionals during collective trauma and highlight the critical need for organizational support systems and resource replenishment strategies to prevent resource depletion.</p>