SPX dealer positioning, the week of April 7, 2025
Apr 7 to Apr 11 · 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 Apr 7 | 4901.4 | 5063.1 | +161.7 +3.30% | 397.8 | -11.6 | 5035.1 crossed 14x | positive |
| Tuesday Apr 8 | 5237.2 | 4987.1 | -250.1 -4.77% | 354.0 | -75.9 | 5026.0 crossed 17x | negative |
| Wednesday Apr 9 | 4958.8 | 5454.5 | +495.7 +10.00% | 527.2 | +467.4 | 5453.0 crossed 3x | positive |
| Thursday Apr 10 | 5346.6 | 5268.2 | -78.4 -1.47% | 228.5 | -186.3 | 5234.2 crossed 2x | positive |
| Friday Apr 11 | 5260.9 | 5360.7 | +99.8 +1.90% | 153.9 | +92.5 | 5182.1 not crossed | positive |
Week: +286.1 points (+5.64%), close to close from 2025-04-04.
Ranges: 1661.3 points over 5 sessions, the largest 527.2 on 2025-04-09.
Zero-gamma flip at the close: 5035.1 on the first session, 5182.1 on the last (+147.0 points).
Closed in positive gamma: 4 of 5 sessions.
Events this week
- Apr 9
09:30VIX settlement
spot +28.7 in the 15 minutes after 09:30; net gamma short (was long); walls 4661.3 / 5256.3 → 4688.3 / 5286.8 - Apr 9
13:0010-year note auction, $39B (reopening)
spot +9.6 in the 15 minutes after 13:00; flip 5130.5 → 5076.1; net gamma long - Apr 9
14:00FOMC minutes
spot -29.1 in the 15 minutes after 14:00; net gamma short - Apr 10
08:30CPI · high impact
CPI y/y: actual 2.4% / prior 2.8%; Core CPI m/m: actual 0.1% / prior 0.3% - Apr 10
13:0030-year bond auction, $22B (reopening)
spot -66.3 in the 15 minutes after 13:00; net gamma long; walls 4913.5 / 5540.7 → 4851.2 / 5470.5 - Apr 11
07:00JPM earnings - Apr 11
08:30PPI
PPI m/m: actual -0.1% / prior 0.2% - Apr 11
10:00UMich consumer sentiment (preliminary)
Sentiment: prior 57; 1y inflation: prior 5%; 5y inflation: prior 4.1%
spot +21.5 in the 15 minutes after 10:00; net gamma short (was long); walls 4951.6 / 5583.7 → 4971.8 / 5606.5
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.