SPX dealer positioning, the week of March 17, 2025
Mar 17 to Mar 21 · 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 17 | 5631.6 | 5675.6 | +43.9 +0.78% | 71.5 | +37.0 | 5516.3 not crossed | positive |
| Tuesday Mar 18 | 5648.4 | 5614.6 | -33.9 -0.60% | 54.0 | -61.0 | 5506.4 not crossed | positive |
| Wednesday Mar 19 | 5634.4 | 5675.4 | +41.0 +0.73% | 88.1 | +60.9 | 5682.0 crossed 29x | negative |
| Thursday Mar 20 | 5634.8 | 5662.0 | +27.2 +0.48% | 76.0 | -13.4 | 5663.3 crossed 16x | negative |
| Friday Mar 21 | 5620.5 | 5667.2 | +46.7 +0.83% | 64.5 | +5.2 | 5657.2 crossed 2x | positive |
Week: +28.7 points (+0.51%), close to close from 2025-03-14.
Ranges: 354.1 points over 5 sessions, the largest 88.1 on 2025-03-19.
Zero-gamma flip at the close: 5516.3 on the first session, 5657.2 on the last (+140.9 points).
Closed in positive gamma: 3 of 5 sessions.
Events this week
- Mar 17
08:30Retail sales
Retail sales m/m: actual 0.0% / prior -0.8% - Mar 18
08:30Housing starts
Housing starts: actual 1491K / prior 1353K - Mar 18
09:30VIX settlement
spot -25.2 in the 15 minutes after 09:30; flip 5514.9 → 5497.3; net gamma long; walls 5514.9 / 5761.2 → 5497.3 / 5719.2 - Mar 18
13:0020-year bond auction, $13B (reopening)
spot +0.7 in the 15 minutes after 13:00; flip 5507.6 → 5509.4; net gamma long; walls 5507.6 / 5701.6 → 5509.4 / 5698.5 - Mar 19
14:00FOMC decision · high impact
Fed funds: actual 4.50% / prior 4.50%
spot +7.7 in the 15 minutes after 14:00; flip 5670.3 → 5667.7; net gamma long - Mar 19
14:30FOMC press conference · high impact
spot +16.6 in the 15 minutes after 14:30; flip 5675.4 → 5519.3; net gamma long (was short)
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.