SPX dealer positioning, the week of November 17, 2025

Nov 17 to Nov 21 · 5 of 5 days traded · each session free to replay

← the week of Nov 10 the week of Nov 24 →the calendar for this week every session

Day	Open	Close	Change	Range	Close to close	Flip at the close	Gamma at the close
Monday Nov 17	6707.4	6672.7	-34.8 -0.52%	111.7	-60.6	6698.4 crossed 14x	negative
Tuesday Nov 18	6639.4	6617.6	-21.9 -0.33%	89.2	-55.1	6637.1 crossed 20x	negative
Wednesday Nov 19	6621.6	6642.1	+20.5 +0.31%	81.6	+24.5	6637.2 crossed 9x	positive
Thursday Nov 20	6744.5	6539.2	-205.3 -3.04%	234.8	-102.9	6609.1 crossed 1x	negative
Friday Nov 21	6572.3	6602.8	+30.5 +0.46%	131.9	+63.6	6611.9 crossed 15x	negative

Week: -130.5 points (-1.94%), close to close from 2025-11-14.
Ranges: 649.2 points over 5 sessions, the largest 234.8 on 2025-11-20.
Zero-gamma flip at the close: 6698.4 on the first session, 6611.9 on the last (-86.5 points).
Closed in positive gamma: 1 of 5 sessions.

Events this week

Nov 18 08:30 Durable goods orders
Durable goods m/m: actual -2.1% / prior 0.6%
Nov 19 09:30 VIX settlement
spot +27.2 in the 15 minutes after 09:30; net gamma long
Nov 19 13:00 20-year bond auction, $16B
spot +2.6 in the 15 minutes after 13:00; flip 6543.2 → 6543.9; net gamma long
Nov 19 14:00 FOMC minutes
spot -7.3 in the 15 minutes after 14:00; flip 6543.9 → 6544.5; net gamma long
Nov 19 16:05 NVDA earnings
Nov 20 07:00 WMT earnings
Nov 20 08:30 Nonfarm payrolls · high impact
Payrolls: actual -140K / prior 76K

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.