SPX dealer positioning, the week of December 1, 2025
Dec 1 to Dec 5 · 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 Dec 1 | 6806.6 | 6812.8 | +6.2 +0.09% | 40.6 | -35.9 | 6818.7 crossed 3x | negative |
| Tuesday Dec 2 | 6830.8 | 6829.8 | -0.9 -0.01% | 42.9 | +17.0 | 6770.3 not crossed | positive |
| Wednesday Dec 3 | 6816.6 | 6850.3 | +33.7 +0.49% | 48.8 | +20.5 | 6758.0 not crossed | positive |
| Thursday Dec 4 | 6862.9 | 6856.0 | -6.9 -0.10% | 35.1 | +5.6 | 6816.6 not crossed | positive |
| Friday Dec 5 | 6872.8 | 6870.4 | -2.4 -0.03% | 36.8 | +14.4 | 6806.9 crossed 1x | positive |
Week: +21.7 points (+0.32%), close to close from 2025-11-28.
Ranges: 204.2 points over 5 sessions, the largest 48.8 on 2025-12-03.
Zero-gamma flip at the close: 6818.7 on the first session, 6806.9 on the last (-11.8 points).
Closed in positive gamma: 4 of 5 sessions.
Events this week
- Dec 1
10:00ISM manufacturing PMI
spot -10.0 in the 15 minutes after 10:00; flip 6714.0 → 6727.0; net gamma long; walls 6714.0 / 6877.3 → 6727.0 / 6885.6 - Dec 1
20:00Fed Chair speech: Brief Remarks and Panel Discussion with Michael - Dec 2
16:30Fed Chair testimony - Dec 3
09:30VIX settlement
spot +5.1 in the 15 minutes after 09:30; net gamma long (was short) - Dec 3
10:00ISM services PMI
spot +0.6 in the 15 minutes after 10:00; flip 6696.6 → 6708.0; net gamma long; walls 6696.6 / 6910.1 → 6708.1 / 6901.7 - Dec 4
08:30Durable goods orders
Durable goods m/m: actual 5.4% / prior -2.1% - Dec 5
08:30PCE inflation, income and spending · high impact
Core PCE m/m: actual 0.2% / prior 0.2%
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.