SPX dealer positioning, the week of March 31, 2025
Mar 31 to Apr 4 · 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 Mar 31 | 5522.6 | 5611.4 | +88.8 +1.61% | 133.1 | +31.8 | 5597.2 crossed 1x | positive |
| Tuesday Apr 1 | 5589.2 | 5632.6 | +43.4 +0.78% | 89.9 | +21.2 | 5634.1 crossed 3x | negative |
| Wednesday Apr 2 | 5572.0 | 5672.0 | +100.0 +1.79% | 122.2 | +39.4 | 5530.2 crossed 1x | positive |
| Thursday Apr 3 | no session | ||||||
| Friday Apr 4 | 5269.9 | 5074.7 | -195.3 -3.70% | 201.1 | -597.4 | 5076.0 crossed 3x | negative |
Week: -504.9 points (-9.05%), close to close from 2025-03-28.
Ranges: 546.3 points over 4 sessions, the largest 201.1 on 2025-04-04.
Zero-gamma flip at the close: 5597.2 on the first session, 5076.0 on the last (-521.2 points).
Closed in positive gamma: 2 of 4 sessions.
Events this week
- Apr 1
10:00ISM manufacturing PMI
spot -27.2 in the 15 minutes after 10:00; flip 5447.6 → 5482.4; net gamma long; walls 5447.6 / 5705.1 → 5482.4 / 5704.3 - Apr 1
10:00JOLTS job openings
Openings: actual 7.24M / prior 7.43M
spot -27.2 in the 15 minutes after 10:00; flip 5447.6 → 5482.4; net gamma long; walls 5447.6 / 5705.1 → 5482.4 / 5704.3 - Apr 2
08:30Durable goods orders
Durable goods m/m: actual 7.6% / prior 1.0% - Apr 2
09:30VIX settlement
spot +39.8 in the 15 minutes after 09:30; net gamma long (was short) - Apr 3
10:00ISM services PMI - Apr 4
08:30Nonfarm payrolls · high impact
Payrolls: actual 67K / prior 42K; Unemployment rate: actual 4.2% / prior 4.2% - Apr 4
11:25Fed Chair speech: Economic Outlook
spot -41.8 in the 15 minutes after 11:25; flip 5074.2 → 5037.6; net gamma long; walls 5074.2 / 5404.6 → 5037.6 / 5405.2
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.