SPX dealer positioning, the week of November 17, 2025
Nov 17 to Nov 21 · 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 Nov 17 | 6707.4 | 6672.7 | -34.8 -0.52% | 111.7 | -60.6 | 6603.1 not crossed | positive |
| Tuesday Nov 18 | 6639.4 | 6617.6 | -21.9 -0.33% | 89.2 | -55.1 | 6544.1 not crossed | positive |
| Wednesday Nov 19 | 6621.6 | 6642.1 | +20.5 +0.31% | 81.6 | +24.5 | 6542.4 not crossed | positive |
| Thursday Nov 20 | 6744.5 | 6539.2 | -205.3 -3.04% | 234.8 | -102.9 | 6518.4 crossed 12x | positive |
| Friday Nov 21 | 6572.3 | 6602.8 | +30.5 +0.46% | 131.9 | +63.6 | 6522.7 not crossed | positive |
Week: -130.5 points (-1.94%), close to close from 2025-11-14.
Ranges: 649.2 points over 5 sessions, the largest 234.8 on 2025-11-20.
Zero-gamma flip at the close: 6603.1 on the first session, 6522.7 on the last (-80.4 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Nov 18
08:30Durable goods orders
Durable goods m/m: actual -2.1% / prior 0.6% - Nov 19
09:30VIX settlement
spot +27.2 in the 15 minutes after 09:30; net gamma long; walls 6224.3 / 6751.2 → 6458.9 / 6727.4 - Nov 19
13:0020-year bond auction, $16B
spot +2.6 in the 15 minutes after 13:00; flip 6543.2 → 6543.9; net gamma long; walls 6543.2 / 6743.4 → 6543.9 / 6738.4 - Nov 19
14:00FOMC minutes
spot -7.3 in the 15 minutes after 14:00; flip 6543.9 → 6544.5; net gamma long; walls 6543.9 / 6731.3 → 6544.5 / 6731.6 - Nov 19
16:05NVDA earnings - Nov 20
07:00WMT earnings - Nov 20
08:30Nonfarm payrolls · high impact
Payrolls: actual -140K / prior 76K
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.