SPX dealer positioning, the week of July 21, 2025
Jul 21 to Jul 25 · 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 Jul 21 | 6309.8 | 6305.8 | -4.0 -0.06% | 31.0 | +9.1 | 6287.7 not crossed | positive |
| Tuesday Jul 22 | 6306.3 | 6310.5 | +4.2 +0.07% | 32.1 | +4.7 | 6231.8 not crossed | positive |
| Wednesday Jul 23 | 6330.2 | 6357.9 | +27.7 +0.44% | 40.0 | +47.4 | 6282.0 not crossed | positive |
| Thursday Jul 24 | 6368.0 | 6363.6 | -4.4 -0.07% | 20.1 | +5.8 | 6350.7 not crossed | positive |
| Friday Jul 25 | 6371.2 | 6389.2 | +18.0 +0.28% | 26.8 | +25.5 | 6312.0 not crossed | positive |
Week: +92.4 points (+1.47%), close to close from 2025-07-18.
Ranges: 150.0 points over 5 sessions, the largest 40.0 on 2025-07-23.
Zero-gamma flip at the close: 6287.7 on the first session, 6312.0 on the last (+24.3 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Jul 22
08:30Fed Chair speech: Opening Remarks - Jul 23
09:30VIX settlement
spot -7.8 in the 15 minutes after 09:30; flip 6163.6 → 6274.0; net gamma long; walls 6163.6 / 6444.9 → 6274.0 / 6385.8 - Jul 23
13:0020-year bond auction, $13B (reopening)
spot -1.4 in the 15 minutes after 13:00; flip 6264.5 → 6266.4; net gamma long; walls 6264.5 / 6385.7 → 6266.4 / 6385.5 - Jul 23
16:05GOOGL earnings - Jul 23
16:05TSLA earnings - Jul 24
08:30Housing starts
Housing starts: actual 1379K / prior 1289K - Jul 25
08:30Durable goods orders
Durable goods m/m: actual -9.4% / prior 16.5% - Jul 25
10:00UMich consumer sentiment (final)
Sentiment: actual 61.7 / prior 60.7; 1y inflation: actual 4.5% / prior 5%; 5y inflation: actual 3.4% / prior 4%
spot +0.2 in the 15 minutes after 10:00; flip 6284.6 → 6297.1; net gamma long; walls 6284.6 / 6422.7 → 6297.0 / 6425.4
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.