SPX dealer positioning, the week of December 22, 2025
Dec 22 to Dec 26 · 4 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 22 | 6866.1 | 6878.4 | +12.3 +0.18% | 24.0 | +43.9 | 6821.4 crossed 1x | positive |
| Tuesday Dec 23 | 6880.6 | 6909.8 | +29.1 +0.42% | 36.1 | +31.4 | 6839.1 not crossed | positive |
| Wednesday Dec 24 | 6908.1 | 6932.0 | +23.9 +0.35% | 28.9 | +22.3 | 6922.0 not crossed | positive |
| Thursday Dec 25 | no session | ||||||
| Friday Dec 26 | 6932.1 | 6929.7 | -2.4 -0.03% | 22.1 | -2.3 | 6888.1 not crossed | positive |
Week: +95.2 points (+1.39%), close to close from 2025-12-19.
Ranges: 111.2 points over 4 sessions, the largest 36.1 on 2025-12-23.
Zero-gamma flip at the close: 6821.4 on the first session, 6888.1 on the last (+66.7 points).
Closed in positive gamma: 4 of 4 sessions.
Events this week
- Dec 23
08:30PCE inflation, income and spending · high impact
Core PCE m/m: actual 0.2% / prior 0.2% - Dec 23
08:30Durable goods orders
Durable goods m/m: actual 5.4% / prior -2.1% - Dec 23
08:30GDP
GDP q/q: actual 0.5% / prior 4.4% - Dec 24
09:30VIX settlement
spot +4.6 in the 15 minutes after 09:30; flip 6870.7 → 6856.8; net gamma long; walls 6870.7 / 7034.9 → 6856.8 / 6943.6 - Dec 26
10:00UMich consumer sentiment (final)
Sentiment: actual 52.9 / prior 51; 1y inflation: actual 4.2% / prior 4.5%; 5y inflation: actual 3.2% / prior 3.4%
spot -8.9 in the 15 minutes after 10:00; flip 6773.9 → 6787.5; net gamma long; walls 6773.9 / 6986.3 → 6787.5 / 6981.8
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.