SPX dealer positioning, the week of December 8, 2025
Dec 8 to Dec 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 Dec 8 | 6875.1 | 6846.4 | -28.7 -0.42% | 46.5 | -24.0 | 6802.9 not crossed | positive |
| Tuesday Dec 9 | 6844.9 | 6840.4 | -4.5 -0.07% | 26.0 | -6.0 | 6803.4 not crossed | positive |
| Wednesday Dec 10 | 6836.5 | 6886.2 | +49.7 +0.73% | 73.4 | +45.8 | 6827.2 crossed 1x | positive |
| Thursday Dec 11 | 6857.4 | 6900.9 | +43.5 +0.63% | 68.4 | +14.7 | 6811.1 crossed 1x | positive |
| Friday Dec 12 | 6890.4 | 6827.5 | -63.0 -0.91% | 94.5 | -73.4 | 6754.7 not crossed | positive |
Week: -42.9 points (-0.62%), close to close from 2025-12-05.
Ranges: 308.7 points over 5 sessions, the largest 94.5 on 2025-12-12.
Zero-gamma flip at the close: 6802.9 on the first session, 6754.7 on the last (-48.2 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Dec 9
10:00JOLTS job openings
Openings: actual 7.17M / prior 7.17M
spot -2.6 in the 15 minutes after 10:00; flip 6769.4 → 6772.6; net gamma long; walls 6769.4 / 6898.9 → 6772.7 / 6902.8 - Dec 9
13:0010-year note auction, $39B (reopening)
spot -0.2 in the 15 minutes after 13:00; flip 6791.2 → 6793.3; net gamma long; walls 6791.2 / 6894.6 → 6793.3 / 6893.5 - Dec 10
09:30VIX settlement
spot +3.9 in the 15 minutes after 09:30; flip 6844.5 → 6553.0; net gamma long (was short) - Dec 10
14:00FOMC decision · high impact
Fed funds: actual 3.75% / prior 4.00%
spot +6.3 in the 15 minutes after 14:00; flip 6833.9 → 6734.1; net gamma long; walls 6833.9 / 6944.0 → 6734.1 / 6958.3 - Dec 10
14:30FOMC press conference · high impact
spot +5.9 in the 15 minutes after 14:30; flip 6823.7 → 6828.1; net gamma long; walls 6823.7 / 6954.3 → 6828.1 / 6949.1 - Dec 10
16:05ORCL earnings - Dec 11
13:0030-year bond auction, $22B (reopening)
spot +5.8 in the 15 minutes after 13:00; flip 6779.7 → 6780.3; net gamma long; walls 6779.6 / 6923.4 → 6780.3 / 6921.1 - Dec 11
16:05AVGO earnings - Dec 11
16:05COST earnings - Dec 12
10:00UMich consumer sentiment (preliminary)
Sentiment: prior 51; 1y inflation: prior 4.5%; 5y inflation: prior 3.4%
spot -12.3 in the 15 minutes after 10:00; flip 6836.4 → 6814.0; net gamma long; walls 6836.4 / 6972.1 → 6814.0 / 6960.0
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.