SPX dealer positioning, the week of May 18, 2026
May 18 to May 22 · 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 18 | 7415.9 | 7402.1 | -13.8 -0.19% | 78.2 | -5.6 | 7387.9 crossed 8x | positive |
| Tuesday May 19 | 7366.9 | 7354.2 | -12.7 -0.17% | 57.2 | -47.9 | 7364.8 crossed 22x | negative |
| Wednesday May 20 | 7374.3 | 7432.5 | +58.2 +0.79% | 73.9 | +78.3 | 7409.2 crossed 7x | positive |
| Thursday May 21 | 7399.6 | 7445.6 | +46.0 +0.62% | 72.0 | +13.1 | 7423.2 crossed 19x | positive |
| Friday May 22 | 7484.5 | 7473.4 | -11.2 -0.15% | 41.6 | +27.8 | 7483.6 crossed 5x | negative |
Week: +65.6 points (+0.89%), close to close from 2026-05-15.
Ranges: 322.8 points over 5 sessions, the largest 78.2 on 2026-05-18.
Zero-gamma flip at the close: 7387.9 on the first session, 7483.6 on the last (+95.7 points).
Closed in positive gamma: 3 of 5 sessions.
Events this week
- May 19
09:30VIX settlement
spot -10.3 in the 15 minutes after 09:30; flip 7082.7 → 7207.8; net gamma long - May 20
13:0020-year bond auction, $16B
spot +2.4 in the 15 minutes after 13:00; flip 7275.9 → 7280.3; net gamma long - May 20
14:00FOMC minutes
spot +1.5 in the 15 minutes after 14:00; flip 7287.3 → 7285.0; net gamma long - May 20
16:05NVDA earnings - May 21
07:00WMT earnings - May 21
08:30Housing starts
Housing starts: actual 1414K / prior 1522K - May 22
10:00UMich consumer sentiment (final)
Sentiment: actual 44.8 / prior 49.8; 1y inflation: actual 4.8% / prior 4.7%; 5y inflation: actual 3.9% / prior 3.5%
spot -5.8 in the 15 minutes after 10:00; flip 7408.1 → 7402.9; 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.