SPX dealer gamma — Friday, September 4, 2026
dealer positioning for the session, reconstructed from the 0DTE options tape
These are the CLOSING levels for 2026-09-04. Where the SPX dealer book stands right now — the current zero-gamma flip, call resistance and put support — is on /now, free, at least fifteen minutes behind the tape.
SPX opened at 7,737.27 and closed at 7,718.57, down 0.24% on the session (range 7,705.70–7,742.55). The close sat 77.4 points above the zero-gamma flip at 7,641.2 — dealer hedging in vol-dampening territory. Call resistance 7,720, put support 7,670. 0DTE ATM IV opened at 7.1%.
Price stayed on one side of the flip for the whole session. The tape spent 14% of the day above VWAP. The session traded outside the expected-hold band 7,685.4–7,738.0 at some point.
| Open → Close | 7,737.27 → 7,718.57 (-0.24%) |
| Session range | 7,705.70 – 7,742.55 |
| VWAP at the close | 7,718.33 |
| Zero-gamma flip | 7,641.2 |
| Call resistance | 7,720 |
| Put support | 7,670 |
| Expected-hold band | 7,685.4 – 7,738.0 |
| 0DTE ATM IV at the open | 7.1% |
| Regime at the close | positive gamma |
| Close vs flip | +77.4 |
| Net-gamma percentile | 95 |
The tape: complete, 390 of 390 minutes, 23,400 seconds with a print · 0 dropped packets · no engine restart · published 16:12:17 ET. Every session's receipt.
End of day: Cboe: SPX put/call 1.15 on 14.2M contracts, index put/call 0.89 · OCC: 0.0M contracts cleared · ON RRP $1bn at 13:15.
This day in its week: the week's numbers · its calendar.
Events this day
08:30Nonfarm payrolls · pre-open · high impact
Hourly earnings m/m forecast 0.3% prior 0.1%; Payrolls actual 162K forecast 55K prior -23K; Unemployment rate actual 4.1% forecast 4.1% prior 4.1%
US releases, Fed events, Treasury auctions and mega-cap earnings from the market calendar; each links to its source, and every kind has its own archive page (FOMC days, CPI days, and so on). Times are ET. The line under an in-session event is the day's own book fifteen minutes on: spot, the zero-gamma flip, the net gamma of the ladder, the walls; measurements, not forecasts.
What changed since 2026-09-03
| Level | 2026-09-04 | Change |
|---|---|---|
| Zero-gamma flip | 7,641.2 | down 18.4 |
| Call resistance | 7,720 | down 30 |
| Put support | 7,670 | down 85 |
Changes compare each session's closing level with the preceding trading session; they are measurements, not forecasts.
Open this session in the terminal → Share session
The terminal replays the full session minute by minute: dealer gamma, vanna and charm by strike, the flip and hold levels as they moved, IV and realised vol side by side. Every historical session is free and needs no account. New to these terms? Start with what GEX is. Measured across the whole archive: how often these levels hold and how far SPX travels before the close.
Measurements are model output derived from public trade and quote data; they are approximations and can be wrong. Nothing here is investment advice — see the Terms.