The tape held its bid

SPY finished the trailing five sessions at +1.27%. Into next week, dealer positioning brackets SPY between the 735 put wall and the 787 call wall. The sections below are built from the desk’s own data: index and cross-asset closes, sector rotation, the coming week’s earnings calendar, disclosed insider buying, and our options-flow scanner.

14 trades closed this week, 7 green — 50%.

Trailing five sessions across the majors, with the last session broken out. Breadth and rotation detail follows in the sector map.

Rates, the dollar, commodities and crypto over the same five sessions. Equity moves that disagree with this table usually lose the argument.

Health Care leads over the window at +1.03%; Utilities brings up the rear at −2.76%. Rotation, not direction, is usually the earlier tell.

Dealer positioning from listed options open interest. Heavy call strikes act as magnets-then-ceilings when spot trades below them; heavy put strikes mark where hedging flows tend to defend. The walls are the largest single-strike concentrations near the money.

Grouped by day, then by session — before the open, during hours (slot unconfirmed), after the close. Coverage is every reporter in roughly the top 1,000 by market cap (the large-cap index universe). 61 smaller names reporting in the window are excluded; the full list is available on request. Where a name is on our coverage list, the one-line read is ours.

Drift book. Post-earnings drift positions our model is still tracking (10-session window from the report date).

The freshest disclosed buys from corporate insiders and Congressional filers, sized by dollars committed. Filing-date entries retain most of the historical edge; scheduled 10b5-1 activity is labelled and should be discounted.

Our scanner watches the listed options tape in real time for sweeps and blocks hitting at the ask or the bid across the most liquid underlyings. This week it flagged 4,660 qualifying prints, the largest a $18,101,800 single order. The live tape runs on the dashboard during market hours.

Positioning resets Monday. The rotation map says where the sponsorship is; the walls say where the friction is. Plan entries at the places those two agree, and let the calendar — not the tape — decide when to be flat.