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 | 7205.3 crossed 4x | negative |
| Tuesday May 5 | 7240.8 | 7259.5 | +18.7 +0.26% | 32.6 | +58.6 | 7256.8 crossed 1x | positive |
| Wednesday May 6 | 7303.4 | 7365.2 | +61.8 +0.85% | 65.9 | +105.7 | 7334.9 not crossed | positive |
| Thursday May 7 | 7372.0 | 7336.9 | -35.1 -0.48% | 59.3 | -28.3 | 7345.5 crossed 5x | negative |
| Friday May 8 | 7371.4 | 7398.4 | +27.0 +0.37% | 29.9 | +61.5 | 7391.2 crossed 6x | 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: 7205.3 on the first session, 7391.2 on the last (+185.9 points).
Closed in positive gamma: 3 of 5 sessions.
Events this week
- May 4
08:30Durable goods orders
Durable goods m/m: actual 8.5% / prior 1.3% - May 4
14:00Senior loan officer survey (SLOOS)
spot -0.6 in the 15 minutes after 14:00; flip 7193.2 → 7192.3; net gamma long - May 5
08:30Housing starts
Housing starts: actual 1414K / prior 1522K - 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 6
09:30VIX settlement
spot +9.3 in the 15 minutes after 09:30; flip 7218.3 → 7221.6; net gamma long - May 8
08:30Nonfarm payrolls · high impact
Payrolls: actual 148K / prior 214K; Unemployment rate: actual 4.3% / prior 4.3% - May 8
10:00UMich consumer sentiment (preliminary)
Sentiment: prior 49.8; 1y inflation: prior 4.7%; 5y inflation: prior 3.5%
spot +4.4 in the 15 minutes after 10:00; flip 7276.6 → 7284.5; net gamma long
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.