SPX dealer positioning, the week of February 23, 2026
Feb 23 to Feb 27 · 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 Feb 23 | 6907.2 | 6837.7 | -69.6 -1.01% | 93.0 | -71.4 | 6839.5 crossed 5x | negative |
| Tuesday Feb 24 | 6833.5 | 6890.1 | +56.6 +0.83% | 77.4 | +52.5 | 6882.8 crossed 4x | positive |
| Wednesday Feb 25 | 6925.3 | 6946.6 | +21.3 +0.31% | 32.5 | +56.4 | 6935.9 not crossed | positive |
| Thursday Feb 26 | 6939.4 | 6908.3 | -31.1 -0.45% | 80.9 | -38.2 | 6897.1 crossed 5x | positive |
| Friday Feb 27 | 6849.7 | 6879.3 | +29.6 +0.43% | 46.3 | -29.0 | 6859.8 crossed 10x | positive |
Week: -29.8 points (-0.43%), close to close from 2026-02-20.
Ranges: 330.1 points over 5 sessions, the largest 93.0 on 2026-02-23.
Zero-gamma flip at the close: 6839.5 on the first session, 6859.8 on the last (+20.3 points).
Closed in positive gamma: 4 of 5 sessions.
Events this week
- Feb 23
08:30Durable goods orders
Durable goods m/m: actual -0.4% / prior -0.9% - Feb 24
10:00Consumer confidence (Conference Board)
spot +10.3 in the 15 minutes after 10:00; flip 6639.9 → 6655.6; net gamma long - Feb 25
09:30VIX settlement
spot +5.2 in the 15 minutes after 09:30; flip 6861.0 → 6825.9; net gamma long - Feb 25
16:05NVDA earnings - Feb 26
10:00Fed Chair testimony
spot -23.2 in the 15 minutes after 10:00; flip 6795.9 → 6842.8; net gamma long - Feb 27 On the same day: index rebalance, month-end SPX
- Feb 27
08:30PPI
PPI m/m: actual 0.6% / prior 0.4%
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.