SPX dealer positioning, the week of May 1, 2023
May 1 to May 5 · 5 of 5 days traded · each session free to replay
| Day | Open | Close | Change | Range | Close to close | Flip at the close | Gamma at the close |
|---|---|---|---|---|---|---|---|
| Monday May 1 | 4167.4 | 4167.5 | +0.1 +0.00% | 20.7 | -2.0 | 4151.9 not crossed | positive |
| Tuesday May 2 | 4155.8 | 4119.1 | -36.7 -0.88% | 64.4 | -48.4 | 4126.1 crossed 13x | negative |
| Wednesday May 3 | 4126.1 | 4091.2 | -34.9 -0.85% | 54.5 | -28.0 | 4065.1 not crossed | positive |
| Thursday May 4 | 4079.7 | 4060.3 | -19.4 -0.48% | 33.6 | -30.8 | 4079.3 crossed 34x | negative |
| Friday May 5 | 4097.4 | 4134.9 | +37.5 +0.92% | 49.3 | +74.6 | 4131.6 crossed 14x | positive |
Week: -34.6 points (-0.83%), close to close from 2023-04-28.
Ranges: 222.5 points over 5 sessions, the largest 64.4 on 2023-05-02.
Zero-gamma flip at the close: 4151.9 on the first session, 4131.6 on the last (-20.3 points).
Closed in positive gamma: 3 of 5 sessions.
Events this week
- May 1
10:00ISM manufacturing PMI
spot +4.4 in the 15 minutes after 10:00; flip 4118.4 → 4113.5; net gamma long; walls 4118.4 / 4212.4 → 4113.5 / 4212.2 - May 2
08:30Durable goods orders
Durable goods m/m: actual 0.3% / prior 3.1% - May 2
10:00JOLTS job openings
Openings: actual 9.65M / prior 9.86M
spot -19.2 in the 15 minutes after 10:00; flip 4129.8 → 4125.0; net gamma long; walls 4129.8 / 4209.1 → 4125.0 / 4213.4 - May 3
08:30Quarterly refunding statement - May 3
09:30VIX settlement
spot +3.5 in the 15 minutes after 09:30; flip 4018.6 → 4081.1; net gamma long; walls 4018.6 / 4195.6 → 4081.1 / 4142.0 - May 3
10:00ISM services PMI
spot -7.1 in the 15 minutes after 10:00; net gamma short - May 3
14:00FOMC decision · high impact
Fed funds: actual 5.25% / prior 5.00%
spot -5.4 in the 15 minutes after 14:00; net gamma short - May 3
14:30FOMC press conference · high impact
spot -0.6 in the 15 minutes after 14:30; net gamma short - May 4
16:05AAPL earnings - May 5
08:30Nonfarm payrolls · high impact
Payrolls: actual 241K / prior 68K; Unemployment rate: actual 3.4% / prior 3.5%
Prices are SPX at the minute. Change is close minus open; close to close is against the previous finished session. The zero-gamma flip is the terminal's measured flip at the close, and "crossed" counts the minutes the tape changed sides of it. Gamma at the close is where the close sat against that flip. Events are the market calendar's high and medium impact rows; the line under an in-session event is what the book did in the fifteen minutes after it, from the day's own payload. Nothing here is a forecast; see the Terms.