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Track Market Moves in Absolute Terms
The Opening Gap $ pivot table provides a simple yet powerful metric: it shows how much the SPY index moved in dollar terms from the previous day’s close to the current day’s open.
This helps traders understand the size of the overnight movement regardless of the percentage. It’s especially useful for evaluating how your strategy performs when the market opens with large absolute moves.
Formula:
Opening Gap $ = SPY Open Today – SPY Close Yesterday
For example, if SPY closed at 400 and opened at 404, then:
Opening Gap $ = 404 – 400 = +4
Each trade is tagged with this value based on the trade’s date. Use this pivot report to spot patterns — like whether larger dollar gaps result in higher profits or more losses in your trades.
