SPX dealer positioning, the week of August 18, 2025
Aug 18 to Aug 22 · 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 Aug 18 | 6447.6 | 6449.7 | +2.2 +0.03% | 15.6 | -0.6 | 6383.3 not crossed | positive |
| Tuesday Aug 19 | 6445.5 | 6411.5 | -34.0 -0.53% | 55.5 | -38.2 | 6400.2 not crossed | positive |
| Wednesday Aug 20 | 6405.3 | 6395.9 | -9.3 -0.15% | 60.9 | -15.6 | 6287.1 not crossed | positive |
| Thursday Aug 21 | 6367.0 | 6369.9 | +3.0 +0.05% | 40.1 | -26.0 | 6330.5 not crossed | positive |
| Friday Aug 22 | 6387.0 | 6466.5 | +79.5 +1.25% | 91.3 | +96.6 | 6385.9 not crossed | positive |
Week: +16.2 points (+0.25%), close to close from 2025-08-15.
Ranges: 263.4 points over 5 sessions, the largest 91.3 on 2025-08-22.
Zero-gamma flip at the close: 6383.3 on the first session, 6385.9 on the last (+2.6 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Aug 19
08:30Housing starts
Housing starts: actual 1432K / prior 1379K - Aug 20
09:30VIX settlement
spot -10.4 in the 15 minutes after 09:30; flip 6322.6 → 6310.7; net gamma long; walls 6322.6 / 6451.8 → 6310.8 / 6425.3 - Aug 20
13:0020-year bond auction, $16B
spot +2.2 in the 15 minutes after 13:00; flip 6271.4 → 6271.2; net gamma long; walls 6271.4 / 6434.5 → 6271.2 / 6433.6 - Aug 20
14:00FOMC minutes
spot -12.1 in the 15 minutes after 14:00; flip 6276.4 → 6279.3; net gamma long; walls 6276.4 / 6432.2 → 6279.4 / 6432.0 - Aug 21
07:00WMT earnings - Aug 22
10:00Fed Chair speech: Economic Outlook and Framework Review
spot +26.1 in the 15 minutes after 10:00; flip 6357.8 → 6210.8; net gamma long; walls 6357.8 / 6496.2 → 6210.8 / 6549.7 - Aug 22
10:00UMich consumer sentiment (final)
Sentiment: actual 58.2 / prior 61.7; 1y inflation: actual 4.8% / prior 4.5%; 5y inflation: actual 3.5% / prior 3.4%
spot +26.1 in the 15 minutes after 10:00; flip 6357.8 → 6210.8; net gamma long; walls 6357.8 / 6496.2 → 6210.8 / 6549.7
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.