SPX dealer positioning, the week of September 14, 2026
Sep 14 to Sep 18 · 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 Sep 14 | 7600.1 | 7620.6 | +20.5 +0.27% | 54.3 | -36.7 | 7626.6 crossed 6x | negative |
| Tuesday Sep 15 | 7610.4 | 7584.6 | -25.8 -0.34% | 36.2 | -36.0 | 7585.9 crossed 5x | negative |
| Wednesday Sep 16 | 7606.1 | 7551.9 | -54.3 -0.71% | 114.3 | -32.7 | 7580.0 crossed 13x | negative |
| Thursday Sep 17 | 7640.6 | 7637.8 | -2.8 -0.04% | 33.7 | +85.9 | 7633.9 crossed 14x | positive |
| Friday Sep 18 | 7641.1 | 7648.1 | +7.0 +0.09% | 38.0 | +10.3 | 7630.0 crossed 22x | positive |
Week: -9.1 points (-0.12%), close to close from 2026-09-11.
Ranges: 276.6 points over 5 sessions, the largest 114.3 on 2026-09-16.
Zero-gamma flip at the close: 7626.6 on the first session, 7630.0 on the last (+3.4 points).
Closed in positive gamma: 2 of 5 sessions.
Events this week
- Sep 15
13:0020-year bond auction, $13B (reopening)
spot -6.5 in the 15 minutes after 13:00; flip 7550.4 → 7547.5; net gamma long - Sep 16
08:30Retail sales
Ex-autos m/m: forecast 0.6% / prior -0.3%; Retail sales m/m: actual 1.2% / forecast 0.8% / prior -0.6% - Sep 16
09:30VIX settlement
spot -0.8 in the 15 minutes after 09:30; flip 7219.9 → 7496.6; net gamma long - Sep 16
14:00FOMC decision · high impact
Fed funds: actual 4.00% / forecast 4.00% / prior 3.75%
spot +2.3 in the 15 minutes after 14:00; net gamma short - Sep 16
14:30FOMC press conference · high impact
spot -2.6 in the 15 minutes after 14:30; flip 7530.2 → 7544.0; net gamma short - Sep 17
08:30Housing starts
Housing starts: actual 1275K / prior 1309K - Sep 18 Expiries coincide: quarterly options, ES and NQ futures, index rebalance
- Sep 18 ES and NQ futures expire at the open (ESU6, NQU6); ESZ6 is the front contract
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.