SPX dealer positioning, the week of December 15, 2025
Dec 15 to Dec 19 · 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 15 | 6861.1 | 6816.6 | -44.5 -0.65% | 56.2 | -10.9 | 6756.0 not crossed | positive |
| Tuesday Dec 16 | 6808.7 | 6800.1 | -8.6 -0.13% | 56.1 | -16.5 | 6713.5 not crossed | positive |
| Wednesday Dec 17 | 6804.2 | 6722.1 | -82.1 -1.21% | 89.7 | -78.1 | 6697.9 crossed 1x | positive |
| Thursday Dec 18 | 6789.3 | 6775.2 | -14.1 -0.21% | 56.0 | +53.2 | 6722.7 not crossed | positive |
| Friday Dec 19 | 6800.3 | 6834.5 | +34.2 +0.50% | 39.1 | +59.3 | 6768.0 not crossed | positive |
Week: +7.0 points (+0.10%), close to close from 2025-12-12.
Ranges: 297.0 points over 5 sessions, the largest 89.7 on 2025-12-17.
Zero-gamma flip at the close: 6756.0 on the first session, 6768.0 on the last (+12.0 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- Dec 16
08:30Nonfarm payrolls · high impact
Payrolls: actual 41K / prior -140K; Unemployment rate: actual 4.5% / prior 4.4% - Dec 16
08:30Retail sales
Retail sales m/m: actual 0.5% / prior -0.2% - Dec 17
09:30VIX settlement
spot -12.6 in the 15 minutes after 09:30; flip 7194.2 → 6571.8; net gamma long (was short) - Dec 17
13:0020-year bond auction, $13B (reopening)
spot -12.1 in the 15 minutes after 13:00; flip 6672.2 → 6674.3; net gamma long; walls 6672.1 / 6862.6 → 6674.3 / 6862.0 - Dec 18
08:30CPI · high impact
CPI y/y: actual 3.0% / prior 3.0%; Core CPI 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.