SPX dealer positioning, the week of December 29, 2025
Dec 29 to Jan 2 · 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 29 | 6904.4 | 6905.6 | +1.2 +0.02% | 27.3 | -24.1 | 6856.3 crossed 1x | positive |
| Tuesday Dec 30 | 6904.8 | 6895.9 | -8.9 -0.13% | 19.3 | -9.7 | 6878.5 not crossed | positive |
| Wednesday Dec 31 | 6900.4 | 6846.4 | -53.9 -0.78% | 53.9 | -49.4 | 6840.8 not crossed | positive |
| Thursday Jan 1 | no session | ||||||
| Friday Jan 2 | 6886.0 | 6858.3 | -27.7 -0.40% | 67.9 | +11.9 | 6786.7 crossed 1x | positive |
Week: -71.4 points (-1.03%), close to close from 2025-12-26.
Ranges: 168.4 points over 4 sessions, the largest 67.9 on 2026-01-02.
Zero-gamma flip at the close: 6856.3 on the first session, 6786.7 on the last (-69.6 points).
Closed in positive gamma: 4 of 4 sessions.
Events this week
- Dec 30
10:00Consumer confidence (Conference Board)
spot -9.7 in the 15 minutes after 10:00; flip 6892.9 → 6887.0; net gamma long; walls 6892.9 / 6943.1 → 6887.0 / 6950.3 - Dec 30
14:00FOMC minutes
spot +0.1 in the 15 minutes after 14:00; flip 6875.1 → 6874.7; net gamma long; walls 6875.0 / 6937.7 → 6874.6 / 6937.7 - Dec 31
09:30VIX settlement
spot -17.5 in the 15 minutes after 09:30; net gamma long; walls 6486.4 / 6939.0 → 6730.9 / 6955.2 - Jan 2
10:00ISM manufacturing PMI
spot -26.4 in the 15 minutes after 10:00; flip 6787.4 → 6825.4; net gamma long; walls 6787.5 / 6925.4 → 6825.4 / 6950.1
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.