SPX dealer positioning, the week of March 3, 2025
Mar 3 to Mar 7 · 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 Mar 3 | 5971.0 | 5849.2 | -121.8 -2.04% | 168.2 | -103.6 | 5819.7 crossed 4x | positive |
| Tuesday Mar 4 | 5806.3 | 5778.4 | -27.9 -0.48% | 126.7 | -70.7 | 5575.4 crossed 5x | positive |
| Wednesday Mar 5 | 5783.3 | 5841.4 | +58.0 +1.00% | 114.8 | +62.9 | 5627.9 not crossed | positive |
| Thursday Mar 6 | 5766.2 | 5737.4 | -28.8 -0.50% | 97.7 | -103.9 | 5592.0 not crossed | positive |
| Friday Mar 7 | 5728.3 | 5769.9 | +41.6 +0.73% | 115.5 | +32.5 | 5683.3 not crossed | positive |
Week: -182.8 points (-3.07%), close to close from 2025-02-28.
Ranges: 622.9 points over 5 sessions, the largest 168.2 on 2025-03-03.
Zero-gamma flip at the close: 5819.7 on the first session, 5683.3 on the last (-136.4 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Mar 3
10:00ISM manufacturing PMI
spot -0.6 in the 15 minutes after 10:00; flip 5904.2 → 5837.3; net gamma long; walls 5904.2 / 6081.9 → 5837.3 / 6064.4 - Mar 5
08:30Durable goods orders
Durable goods m/m: actual 1.0% / prior 0.2% - Mar 5
09:30VIX settlement
spot +12.2 in the 15 minutes after 09:30; net gamma long (was short) - Mar 5
10:00ISM services PMI
spot -10.3 in the 15 minutes after 10:00; flip 5533.1 → 5521.0; net gamma long; walls 5533.1 / 5900.3 → 5521.0 / 5903.4 - Mar 5
14:00Fed Beige Book
spot +30.6 in the 15 minutes after 14:00; flip 5629.9 → 5630.6; net gamma long; walls 5629.9 / 5901.3 → 5630.6 / 5890.1 - Mar 6
16:05AVGO earnings - Mar 6
16:05COST earnings - Mar 7
08:30Nonfarm payrolls · high impact
Payrolls: actual 42K / prior -48K; Unemployment rate: actual 4.2% / prior 4.0% - Mar 7
12:30Fed Chair speech: Economic Outlook
spot +41.7 in the 15 minutes after 12:30; flip 5530.0 → 5524.0; net gamma long; walls 5530.0 / 5796.5 → 5524.0 / 5802.9
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.