SPX dealer positioning, the week of July 28, 2025

Jul 28 to Aug 1 · 5 of 5 days traded · each session free to replay

← the week of Jul 21 the week of Aug 4 →the calendar for this week every session

Day	Open	Close	Change	Range	Close to close	Flip at the close	Gamma at the close
Monday Jul 28	6397.0	6389.7	-7.3 -0.11%	23.5	+0.6	6349.6 not crossed	positive
Tuesday Jul 29	6406.0	6371.3	-34.8 -0.54%	41.9	-18.5	6353.5 not crossed	positive
Wednesday Jul 30	6375.3	6362.7	-12.6 -0.20%	59.3	-8.6	6302.0 not crossed	positive
Thursday Jul 31	6406.3	6341.5	-64.8 -1.01%	85.7	-21.2	6272.4 crossed 12x	positive
Friday Aug 1	6272.7	6238.4	-34.4 -0.55%	59.5	-103.1	6159.5 not crossed	positive

Week: -150.8 points (-2.36%), close to close from 2025-07-25.
Ranges: 269.8 points over 5 sessions, the largest 85.7 on 2025-07-31.
Zero-gamma flip at the close: 6349.6 on the first session, 6159.5 on the last (-190.1 points).
Closed in positive gamma: 5 of 5 sessions.

Events this week

Jul 29 07:00 PG earnings
Jul 29 07:00 UNH earnings
Jul 29 10:00 Consumer confidence (Conference Board)
spot +0.2 in the 15 minutes after 10:00; flip 6342.5 → 6341.2; net gamma long; walls 6342.5 / 6450.4 → 6341.2 / 6449.8
Jul 29 10:00 JOLTS job openings
Openings: actual 7.31M / prior 7.10M
spot +0.2 in the 15 minutes after 10:00; flip 6342.5 → 6341.2; net gamma long; walls 6342.5 / 6450.4 → 6341.2 / 6449.8
Jul 29 16:05 V earnings
Jul 30 08:30 GDP
GDP q/q: actual 4.4% / prior 3.8%
Jul 30 08:30 Quarterly refunding statement
Jul 30 09:30 VIX settlement
spot +6.4 in the 15 minutes after 09:30; flip 6330.3 → 6289.7; net gamma long; walls 6330.3 / 6514.0 → 6289.7 / 6434.7
Jul 30 14:00 FOMC decision · high impact
Fed funds: actual 4.50% / prior 4.50%
spot -4.9 in the 15 minutes after 14:00; flip 6317.5 → 6308.0; net gamma long; walls 6317.5 / 6441.5 → 6308.0 / 6446.4
Jul 30 14:30 FOMC press conference · high impact
spot -2.6 in the 15 minutes after 14:30; flip 6304.8 → 6300.7; net gamma long; walls 6304.8 / 6445.7 → 6300.7 / 6441.7
Jul 30 16:05 META earnings
Jul 30 16:05 MSFT earnings
Jul 31 07:00 MA earnings
Jul 31 08:30 PCE inflation, income and spending · high impact
Core PCE m/m: actual 0.3% / prior 0.2%
Jul 31 16:05 AAPL earnings
Jul 31 16:05 AMZN earnings
Aug 1 07:00 XOM earnings
Aug 1 08:30 Nonfarm payrolls · high impact
Payrolls: actual 64K / prior -20K; Unemployment rate: actual 4.3% / prior 4.1%
Aug 1 10:00 ISM manufacturing PMI
spot +18.6 in the 15 minutes after 10:00; flip 6193.1 → 6162.1; net gamma long; walls 6193.1 / 6350.4 → 6162.1 / 6340.3

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.