SPX dealer positioning, the week of February 10, 2025

Feb 10 to Feb 14 · 5 of 5 days traded · each session free to replay

← the week of Feb 3 the week of Feb 17 →the calendar for this week every session

Day	Open	Close	Change	Range	Close to close	Flip at the close	Gamma at the close
Monday Feb 10	6054.6	6067.0	+12.4 +0.21%	25.9	+40.9	5994.2 not crossed	positive
Tuesday Feb 11	6047.8	6068.6	+20.8 +0.34%	27.3	+1.6	6001.8 not crossed	positive
Wednesday Feb 12	6006.8	6051.7	+44.9 +0.75%	58.0	-16.9	5999.2 not crossed	positive
Thursday Feb 13	6062.8	6115.1	+52.3 +0.86%	66.3	+63.4	6002.1 not crossed	positive
Friday Feb 14	6118.5	6114.4	-4.2 -0.07%	16.9	-0.8	6065.9 not crossed	positive

Week: +88.3 points (+1.46%), close to close from 2025-02-07.
Ranges: 194.5 points over 5 sessions, the largest 66.3 on 2025-02-13.
Zero-gamma flip at the close: 5994.2 on the first session, 6065.9 on the last (+71.7 points).
Closed in positive gamma: 5 of 5 sessions.

Events this week

Feb 11 10:00 Fed Chair testimony
spot -1.2 in the 15 minutes after 10:00; flip 5978.4 → 5977.7; net gamma long; walls 5978.4 / 6097.8 → 5977.7 / 6101.6
Feb 11 10:00 Fed Chair testimony: Semiannual Monetary Policy Report to Congress
spot -1.2 in the 15 minutes after 10:00; flip 5978.4 → 5977.7; net gamma long; walls 5978.4 / 6097.8 → 5977.7 / 6101.6
Feb 12 08:30 CPI · high impact
CPI y/y: actual 3.0% / prior 2.9%; Core CPI m/m: actual 0.4% / prior 0.2%
Feb 12 09:30 VIX settlement
spot +16.9 in the 15 minutes after 09:30; flip 5796.8 → 5885.9; net gamma long; walls 5796.8 / 6077.2 → 5885.9 / 6072.7
Feb 12 10:00 Fed Chair testimony: Semiannual Monetary Policy Report to Congress
spot -5.5 in the 15 minutes after 10:00; flip 5888.1 → 5895.8; net gamma long; walls 5888.1 / 6086.0 → 5895.8 / 6084.3
Feb 12 13:00 10-year note auction, $42B
spot -5.6 in the 15 minutes after 13:00; flip 5957.3 → 5962.4; net gamma long; walls 5957.3 / 6073.5 → 5962.4 / 6074.7
Feb 13 08:30 PPI
PPI m/m: actual 0.6% / prior 0.4%
Feb 13 13:00 30-year bond auction, $25B
spot +2.8 in the 15 minutes after 13:00; flip 5994.4 → 5997.6; net gamma long; walls 5994.4 / 6114.4 → 5997.6 / 6115.2
Feb 14 08:30 Retail sales
Retail sales m/m: actual -0.8% / prior 0.8%
Feb 14 10:00 UMich consumer sentiment (preliminary)
Sentiment: prior 71.7; 1y inflation: prior 3.3%; 5y inflation: prior 3.2%
spot +0.9 in the 15 minutes after 10:00; flip 6031.7 → 6038.7; net gamma long; walls 6031.7 / 6167.6 → 6038.6 / 6166.1

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.