SPX dealer positioning, the week of October 20, 2025

Oct 20 to Oct 24 · 5 of 5 days traded · each session free to replay

← the week of Oct 13 the week of Oct 27 →the calendar for this week every session

Day	Open	Close	Change	Range	Close to close	Flip at the close	Gamma at the close
Monday Oct 20	6703.6	6735.3	+31.7 +0.47%	40.6	+71.9	6649.2 not crossed	positive
Tuesday Oct 21	6734.9	6735.0	+0.2 +0.00%	27.6	-0.3	6675.3 not crossed	positive
Wednesday Oct 22	6733.1	6699.4	-33.7 -0.50%	80.4	-35.6	6611.6 not crossed	positive
Thursday Oct 23	6704.4	6738.3	+33.9 +0.51%	44.6	+38.9	6670.0 not crossed	positive
Friday Oct 24	6780.4	6791.3	+10.9 +0.16%	26.9	+53.0	6775.3 not crossed	positive

Week: +127.9 points (+1.92%), close to close from 2025-10-17.
Ranges: 220.1 points over 5 sessions, the largest 80.4 on 2025-10-22.
Zero-gamma flip at the close: 6649.2 on the first session, 6775.3 on the last (+126.1 points).
Closed in positive gamma: 5 of 5 sessions.

Events this week

Oct 21 16:05 NFLX earnings
Oct 22 09:30 VIX settlement
spot +4.7 in the 15 minutes after 09:30; flip 6694.0 → 6585.4; net gamma long; walls 6694.1 / 6809.7 → 6585.4 / 6800.8
Oct 22 13:00 20-year bond auction, $13B (reopening)
spot -12.8 in the 15 minutes after 13:00; flip 6594.5 → 6595.7; net gamma long; walls 6594.5 / 6785.3 → 6595.6 / 6784.6
Oct 22 16:05 TSLA earnings
Oct 24 07:00 PG earnings
Oct 24 08:30 CPI · high impact
CPI y/y: actual 3.0% / prior 2.9%; Core CPI m/m: actual 0.2% / prior 0.3%
Oct 24 10:00 UMich consumer sentiment (final)
Sentiment: actual 53.6 / prior 55.1; 1y inflation: actual 4.6% / prior 4.7%; 5y inflation: actual 3.9% / prior 3.7%
spot -0.4 in the 15 minutes after 10:00; flip 6716.4 → 6727.8; net gamma long; walls 6716.4 / 6874.6 → 6727.8 / 6932.4

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.