SPX dealer positioning, the week of January 6, 2025
Jan 6 to Jan 10 · 4 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 Jan 6 | 5986.7 | 5974.6 | -12.1 -0.20% | 59.0 | +32.0 | 5945.3 not crossed | positive |
| Tuesday Jan 7 | 5998.1 | 5908.1 | -90.0 -1.50% | 106.7 | -66.6 | 5899.4 not crossed | positive |
| Wednesday Jan 8 | 5902.8 | 5917.4 | +14.6 +0.25% | 49.0 | +9.3 | 5790.1 not crossed | positive |
| Thursday Jan 9 | no session | ||||||
| Friday Jan 10 | 5872.1 | 5826.3 | -45.8 -0.78% | 68.3 | -91.1 | 5815.9 not crossed | positive |
Week: -116.4 points (-1.96%), close to close from 2025-01-03.
Ranges: 283.0 points over 4 sessions, the largest 106.7 on 2025-01-07.
Zero-gamma flip at the close: 5945.3 on the first session, 5815.9 on the last (-129.4 points).
Closed in positive gamma: 4 of 4 sessions.
Events this week
- Jan 6
08:30Durable goods orders
Durable goods m/m: actual 0.8% / prior -1.7% - Jan 6
10:00ISM services PMI
spot +7.4 in the 15 minutes after 10:00; flip 5904.4 → 5911.9; net gamma long; walls 5904.4 / 6051.3 → 5911.9 / 6054.4 - Jan 7
10:00JOLTS job openings
Openings: actual 7.57M / prior 7.38M
spot -23.9 in the 15 minutes after 10:00; flip 5902.5 → 5890.6; net gamma long; walls 5902.5 / 6081.0 → 5890.6 / 6077.0 - Jan 7
13:0010-year note auction, $39B (reopening)
spot +5.7 in the 15 minutes after 13:00; flip 5876.2 → 5869.6; net gamma long; walls 5876.2 / 6023.2 → 5869.6 / 6015.0 - Jan 8
09:30VIX settlement
spot -2.9 in the 15 minutes after 09:30; net gamma long (was short) - Jan 8
13:0030-year bond auction, $22B (reopening)
spot +8.8 in the 15 minutes after 13:00; flip 5772.9 → 5771.9; net gamma long; walls 5772.9 / 5957.5 → 5771.9 / 5945.5 - Jan 8
14:00FOMC minutes
spot +8.4 in the 15 minutes after 14:00; flip 5777.2 → 5777.6; net gamma long; walls 5777.2 / 5940.4 → 5777.6 / 5947.1 - Jan 10
08:30Nonfarm payrolls · high impact
Payrolls: actual 237K / prior 134K; Unemployment rate: actual 4.1% / prior 4.2% - Jan 10
10:00UMich consumer sentiment (preliminary)
Sentiment: prior 74; 1y inflation: prior 2.8%; 5y inflation: prior 3%
spot -16.5 in the 15 minutes after 10:00; flip 5703.4 → 5715.1; net gamma long; walls 5703.4 / 5974.9 → 5715.1 / 5962.0
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.