SPX dealer positioning, the week of March 24, 2025
Mar 24 to Mar 28 · 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 24 | 5725.4 | 5766.9 | +41.5 +0.72% | 47.9 | +99.7 | 5695.4 not crossed | positive |
| Tuesday Mar 25 | 5777.7 | 5776.5 | -1.2 -0.02% | 25.5 | +9.7 | 5732.6 not crossed | positive |
| Wednesday Mar 26 | 5776.8 | 5712.1 | -64.6 -1.12% | 89.0 | -64.4 | 5706.4 not crossed | positive |
| Thursday Mar 27 | 5695.4 | 5692.6 | -2.8 -0.05% | 56.0 | -19.5 | 5712.4 crossed 4x | negative |
| Friday Mar 28 | 5677.1 | 5579.6 | -97.5 -1.72% | 110.4 | -113.0 | 5547.2 crossed 1x | positive |
Week: -87.6 points (-1.55%), close to close from 2025-03-21.
Ranges: 328.8 points over 5 sessions, the largest 110.4 on 2025-03-28.
Zero-gamma flip at the close: 5695.4 on the first session, 5547.2 on the last (-148.2 points).
Closed in positive gamma: 4 of 5 sessions.
Events this week
- Mar 25
08:30Housing starts
Housing starts: actual 1491K / prior 1353K - Mar 25
10:00Consumer confidence (Conference Board)
spot +7.8 in the 15 minutes after 10:00; flip 5681.5 → 5688.7; net gamma long; walls 5681.5 / 5844.3 → 5688.7 / 5833.4 - Mar 26
08:30Durable goods orders
Durable goods m/m: actual 1.0% / prior 0.2% - Mar 26
09:30VIX settlement
spot +2.4 in the 15 minutes after 09:30; flip 5738.9 → 5700.1; net gamma long; walls 5738.9 / 5864.4 → 5700.1 / 5839.7 - Mar 27
08:30GDP
GDP q/q: actual -0.6% / prior 1.9% - Mar 28
08:30PCE inflation, income and spending · high impact
Core PCE m/m: actual 0.4% / prior 0.3% - Mar 28
10:00UMich consumer sentiment (final)
Sentiment: actual 57 / prior 64.7; 1y inflation: actual 5% / prior 4.3%; 5y inflation: actual 4.1% / prior 3.5%
spot -25.7 in the 15 minutes after 10:00; flip 5552.2 → 5560.1; net gamma long; walls 5552.2 / 5767.0 → 5560.1 / 5759.0
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.