S&P 500 Institutional Positioning 2025 — Hedge Fund Equity Exposure
Track S&P 500 (ES futures) institutional positioning, Goldman Sachs Prime Brokerage data, systematic strategy exposure (CTAs, risk parity), and options market gamma positioning.
Frequently Asked Questions
What is dealer gamma exposure in S&P 500?
When options dealers (market makers) are net short calls, they are "long gamma" — they buy futures as markets fall and sell as they rise, stabilizing prices. When dealers are "short gamma," they SELL as markets fall — amplifying moves. Monitoring dealer gamma helps predict whether the S&P 500 will have subdued or volatile price action.
How do CTAs affect S&P 500 positioning?
Commodity Trading Advisors (CTAs) are trend-following systematic funds managing