SPX dealer positioning, the week of September 8, 2025
Sep 8 to Sep 12 · 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 Sep 8 | 6492.6 | 6495.6 | +3.0 +0.05% | 24.2 | +14.2 | 6455.8 not crossed | positive |
| Tuesday Sep 9 | 6498.0 | 6513.1 | +15.0 +0.23% | 34.8 | +17.5 | 6428.9 not crossed | positive |
| Wednesday Sep 10 | 6537.3 | 6532.6 | -4.7 -0.07% | 38.3 | +19.6 | 6497.1 not crossed | positive |
| Thursday Sep 11 | 6551.6 | 6587.0 | +35.5 +0.54% | 46.2 | +54.4 | 6526.1 not crossed | positive |
| Friday Sep 12 | 6584.8 | 6584.9 | +0.1 +0.00% | 19.4 | -2.2 | 6548.9 not crossed | positive |
Week: +103.5 points (+1.60%), close to close from 2025-09-05.
Ranges: 163.0 points over 5 sessions, the largest 46.2 on 2025-09-11.
Zero-gamma flip at the close: 6455.8 on the first session, 6548.9 on the last (+93.1 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Sep 9
16:05ORCL earnings - Sep 10
08:30PPI
PPI m/m: actual -0.2% / prior 0.8% - Sep 10
09:30VIX settlement
spot +4.7 in the 15 minutes after 09:30; flip 6532.8 → 6446.8; net gamma long; walls 6532.8 / 6598.4 → 6446.8 / 6583.9 - Sep 10
13:0010-year note auction, $39B (reopening)
spot +2.2 in the 15 minutes after 13:00; flip 6480.7 → 6481.2; net gamma long; walls 6480.7 / 6585.5 → 6481.3 / 6584.3 - Sep 11
08:30CPI · high impact
CPI y/y: actual 2.9% / prior 2.7%; Core CPI m/m: actual 0.3% / prior 0.3% - Sep 11
13:0030-year bond auction, $22B (reopening)
spot +3.2 in the 15 minutes after 13:00; flip 6497.5 → 6489.3; net gamma long; walls 6497.5 / 6616.2 → 6489.3 / 6614.7 - Sep 12
10:00UMich consumer sentiment (preliminary)
Sentiment: prior 58.2; 1y inflation: prior 4.8%; 5y inflation: prior 3.5%
spot -3.9 in the 15 minutes after 10:00; flip 6511.8 → 6520.1; net gamma long; walls 6511.8 / 6643.5 → 6520.1 / 6638.9
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.