SPX dealer positioning, the week of May 4, 2026
May 4 to May 8 · 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 May 4 | 7219.9 | 7200.9 | -19.0 -0.26% | 62.3 | -28.5 | 7195.2 crossed 18x | positive |
| Tuesday May 5 | 7240.8 | 7259.5 | +18.7 +0.26% | 32.6 | +58.6 | 7247.3 crossed 12x | positive |
| Wednesday May 6 | 7303.4 | 7365.2 | +61.8 +0.85% | 65.9 | +105.7 | 7365.2 crossed 3x | positive |
| Thursday May 7 | 7372.0 | 7336.9 | -35.1 -0.48% | 59.3 | -28.3 | 7303.3 not crossed | positive |
| Friday May 8 | 7371.4 | 7398.4 | +27.0 +0.37% | 29.9 | +61.5 | 7382.7 not crossed | positive |
Week: +168.9 points (+2.34%), close to close from 2026-05-01.
Ranges: 250.0 points over 5 sessions, the largest 65.9 on 2026-05-06.
Zero-gamma flip at the close: 7195.2 on the first session, 7382.7 on the last (+187.5 points).
Closed in positive gamma: 5 of 5 sessions.
Events this week
- May 5
10:00ISM services PMI
spot -1.3 in the 15 minutes after 10:00; flip 7175.7 → 7255.5; net gamma short (was long) - May 5
10:00JOLTS job openings
Openings: actual 6.89M / prior 6.92M
spot -1.3 in the 15 minutes after 10:00; flip 7175.7 → 7255.5; net gamma short (was long) - May 8
08:30Nonfarm payrolls · high impact
Payrolls: actual 148K / prior 214K; Unemployment rate: actual 4.3% / prior 4.3%
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.