SPX dealer positioning, the week of January 5, 2026
Jan 5 to Jan 9 · 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 Jan 5 | 6898.4 | 6901.5 | +3.1 +0.05% | 26.6 | +43.2 | 6907.8 crossed 7x | negative |
| Tuesday Jan 6 | 6908.7 | 6944.7 | +36.0 +0.52% | 42.5 | +43.2 | 6926.6 crossed 14x | positive |
| Wednesday Jan 7 | 6944.6 | 6921.4 | -23.3 -0.33% | 45.1 | -23.4 | 6944.7 crossed 11x | negative |
| Thursday Jan 8 | 6913.2 | 6921.9 | +8.7 +0.13% | 27.9 | +0.6 | 6918.0 crossed 29x | positive |
| Friday Jan 9 | 6932.9 | 6966.6 | +33.7 +0.49% | 57.3 | +44.7 | 6960.3 crossed 3x | positive |
Week: +108.3 points (+1.58%), close to close from 2026-01-02.
Ranges: 199.4 points over 5 sessions, the largest 57.3 on 2026-01-09.
Zero-gamma flip at the close: 6907.8 on the first session, 6960.3 on the last (+52.5 points).
Closed in positive gamma: 3 of 5 sessions.
Events this week
- Jan 6
10:00ISM services PMI
spot +3.6 in the 15 minutes after 10:00; flip 6862.9 → 6860.1; net gamma long - Jan 7
08:30Durable goods orders
Durable goods m/m: actual -0.9% / prior 5.4% - Jan 7
09:30VIX settlement
spot +9.0 in the 15 minutes after 09:30; flip 7315.7 → 6873.5; net gamma long (was short) - Jan 7
10:00JOLTS job openings
Openings: actual 6.85M / prior 7.17M
spot -7.4 in the 15 minutes after 10:00; flip 6866.8 → 6861.4; net gamma long - Jan 9
08:30Nonfarm payrolls · high impact
Payrolls: actual -17K / prior 41K; Unemployment rate: actual 4.4% / prior 4.5% - Jan 9
08:30Housing starts
Housing starts: actual 1378K / prior 1319K - Jan 9
10:00UMich consumer sentiment (preliminary)
Sentiment: prior 52.9; 1y inflation: prior 4.2%; 5y inflation: prior 3.2%
spot +1.2 in the 15 minutes after 10:00; net gamma long (was short)
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.