Strasmore Research
Deep Dives · Matt ConnorBy Matt Connor · · Updated 2026-07-25

SPCX: SpaceX上市首月回顧

從延遲開盤、美元成交量稱冠、買賣價差收窄，到掛牌第三天推出選擇權及空單布局，逐筆回顧SPCX六月表現。

SpaceX 於 2026 年 6 月 12 日掛牌上市，代號為 SPCX——這四個字母在同年 4 月時，仍屬於另一家公司。
發行價定在 $135，開盤價為 $150（較發行價高出 11.1%），並在 2026-06-16 當天創下 $201.99 的收盤高點，盤前交易時段曾觸及 $146.88 的低點，最終收在 $170.72——較發行價高出 26.5%，較高點回落 15.5%——同時，其正規交易時段美元成交金額在全美市場排名第四，領先 NVDA。
此處所有數字均為預存查詢結果；展開任一資訊面板即可查看確切的 SQL 語法。

查詢單月一覽：發行至收盤，含極端值與對應收據
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT toFloat64(final_issue_price)
        FROM global_markets.stocks_ipos
        WHERE ticker = 'SPCX'
        ORDER BY listing_date DESC LIMIT 1
    ) AS issue_px,
    (
        SELECT count() FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPCX'
          AND window_start >= toDateTime('2026-05-01 00:00:00') AND window_start < toDateTime('2026-06-01 00:00:00')
    ) AS may_bars,
    (
        SELECT count() FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPY'
          AND window_start >= toDateTime('2026-06-19 00:00:00') AND window_start < toDateTime('2026-06-20 00:00:00')
    ) AS spy_jun19,
    (
        SELECT (toString(argMax(et_date, c)), max(c), argMax(c, et_date))
        FROM (
            SELECT
                toDate(toTimeZone(window_start, 'America/New_York')) AS et_date,
                argMax(toFloat64(close), window_start) AS c
            FROM global_markets.delayed_stocks_minute_aggs
            WHERE ticker = 'SPCX'
              AND window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')
              AND (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199
            GROUP BY et_date
        )
    ) AS closes,
    (
        SELECT max(toFloat64(high)) FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPCX'
          AND window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')
    ) AS hi,
    (
        SELECT min(toFloat64(low)) FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPCX'
          AND window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')
    ) AS lo
SELECT
    round(issue_px, 2) AS issue_price_usd,
    round(toFloat64(argMin(open, window_start)), 2) AS opening_cross_price,
    round((toFloat64(argMin(open, window_start)) / issue_px - 1) * 100, 1) AS open_pop_vs_issue_pct,
    closes.1 AS peak_close_date,
    round(closes.2, 2) AS peak_close,
    round(closes.3, 2) AS final_close,
    round((closes.3 / issue_px - 1) * 100, 1) AS final_vs_issue_pct,
    round((1 - closes.3 / closes.2) * 100, 1) AS final_below_peak_pct,
    round(hi, 2) AS month_high,
    formatDateTime(toTimeZone(minIf(window_start, toFloat64(high) >= hi - 0.011), 'America/New_York'), '%Y-%m-%d %H:%i') AS month_high_first_bar_et,
    countIf(toFloat64(high) >= hi - 0.011) AS bars_within_cent_of_high,
    argMinIf(transactions, window_start, toFloat64(high) >= hi - 0.011) AS high_minute_trades,
    round(lo, 2) AS month_low_extended,
    formatDateTime(toTimeZone(argMin(window_start, toFloat64(low)), 'America/New_York'), '%Y-%m-%d %H:%i') AS month_low_bar_et,
    countIf(toFloat64(low) <= lo + 0.011) AS bars_within_cent_of_low,
    argMin(transactions, toFloat64(low)) AS low_minute_trades,
    round(minIf(toFloat64(low), (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199), 2) AS month_low_regular_hours,
    round(minIf(toFloat64(low), (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199) - lo, 2) AS rth_minus_extended_low,
    round(toFloat64(sum(volume)) / 1e9, 2) AS month_shares_bn,
    uniqExact(toDate(toTimeZone(window_start, 'America/New_York'))) AS sessions,
    may_bars AS may_2026_bars,
    spy_jun19 AS spy_bars_june19
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPCX'
  AND window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')

一個代碼，兩家公司

SPCX 是重新使用的代碼，因此先提供驗證記錄。直到 2026 年 4 月，該代碼以一支交易清淡的基金形式交易——在其最後一個活躍月份中，有 13 分鐘 K 線，價格區間在 $21.92 至 $23.64 之間。2026 年 5 月完全沒有任何交易記錄（0 根 K 線）。6 月 12 日，該代碼被重新分配給太空探索技術公司（Space Exploration Technologies Corp.）：

查詢IPO 記錄：自 2026 年 6 月 12 日起 SPCX 背後的主體
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT (toString(listing_date), toFloat64(final_issue_price), round(toFloat64(total_offer_size) / 1e9, 1),
                primary_exchange, issuer_name, security_description, toFloat64(max_shares_offered))
        FROM global_markets.stocks_ipos
        WHERE ticker = 'SPCX'
        ORDER BY listing_date DESC LIMIT 1
    ) AS ipo,
    (SELECT count() FROM global_markets.stocks_balance_sheets WHERE cik = '0001181412' OR has(tickers, 'SPCX')) AS bs_rows,
    (SELECT count() FROM global_markets.stocks_cash_flow_statements WHERE cik = '0001181412' OR has(tickers, 'SPCX')) AS cf_rows,
    (SELECT count() FROM global_markets.stocks_income_statements WHERE cik = '0001181412' OR has(tickers, 'SPCX')) AS is_rows
SELECT
    ipo.1 AS listing_date,
    ipo.5 AS issuer,
    round(ipo.2, 2) AS final_issue_price_usd,
    ipo.3 AS offer_size_busd,
    round(ipo.7 / 1e6, 1) AS max_shares_offered_m,
    ipo.4 AS listing_exchange,
    ipo.6 AS security,
    bs_rows + cf_rows + is_rows AS fundamentals_rows
查詢代碼重複使用收據：SPCX 十三個月的分鐘 K 線 — 2026 年 5 月完全缺失
每個數據背後的精確 SQL 語法
SELECT
    toStartOfMonth(window_start) AS month,
    count() AS minute_bars,
    round(min(toFloat64(low)), 2) AS low_usd,
    round(max(toFloat64(high)), 2) AS high_usd,
    round(toFloat64(sum(volume)) / 1e6, 2) AS shares_m
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPCX'
  AND window_start >= toDateTime('2025-06-01 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')
GROUP BY month
ORDER BY month

未設定時間範圍的「SPCX 歷史」查詢會將兩家不相關的公司拼接在一起——因此此處的每個時間範圍都從 2026 年 6 月 12 日開始。新聞摘要顯示了相同的斷層（過去十二個月內有 0 篇標記為 SPCX 的文章），沽空比率也是如此：大約 11461 倍的增幅。

書面記錄先行

查詢SpaceX 2026 年 SEC 申報軌跡（依表單類型，按申報順序，CIK 0001181412，依登錄號去重）
每個數據背後的精確 SQL 語法
SELECT
    form_type,
    uniqExact(accession_number) AS filings,
    toString(min(filing_date)) AS first_filed,
    toString(max(filing_date)) AS last_filed
FROM global_markets.stocks_sec_edgar_index
WHERE cik = '0001181412'
  AND filing_date >= toDate('2026-01-01') AND filing_date <= toDate('2026-06-30')
GROUP BY form_type
ORDER BY min(filing_date), form_type

由上而下閱讀，IPO 的輪廓自然浮現：2026-05-07 提交機密註冊聲明修正草案（DRS/A），2026-05-20 公開 S-1 申報書，2 對其進行修正，隨後在 2026-06-04 至 2026-06-11 之間提交了 7 FWP 份自由撰寫的公開說明書——即路演文件。交易所註冊與資格認證於 2026-06-10 完成；生效通知及 10 份內部人 3 表格中的第一份於 2026-06-11 提交；最終版 424B4 公開說明書及一份 S-8 表格則於掛牌當日提交。隨後，申報節奏轉為 8-K 表格：

查詢SpaceX 於 2026 年 6 月提交的每份 8-K，附各份開頭數行
每個數據背後的精確 SQL 語法
SELECT
    toString(filing_date) AS filed,
    form_type,
    replaceAll(substring(items_text, 1, 170), '\n', ' · ') AS opening_lines
FROM global_markets.stocks_8k_text
WHERE cik = '0001181412'
  AND filing_date >= toDate('2026-06-01') AND filing_date <= toDate('2026-06-30')
ORDER BY filing_date

不到兩週內提交了 6 份：IPO 交割時的非註冊股份出售（項目 3.02）；與全資子公司 X67 Inc. 的重大合約（1.01）；董事會及高階主管變動（5.02）；一份公平揭露規則通知（7.01）；以及根據 2026-06-23 提交的 8-K 表格，關於一項於 6 月 22 日啟動的優先無擔保票據發行的項目 8.01 通知。6 月 23 日的一則頭條新聞如此定調：「SpaceX's Fundraising Is Not Over With a $20 Billion New Bond Offering」。發行窗口期與該股當月低點落在相同的日曆日；此數據僅能說明這一點。

掛牌日：沒有9:30的開盤

IPO並非隨大盤開盤。Nasdaq自美東時間09:50:01開始發布SPCX報價——鎖定的、指示性的買賣同價配對，逐步引導價格走向撮合價——將近兩個小時內完全沒有任何成交。SpaceX的第一筆公開成交紀錄就是開盤集合競價本身：58.21百萬股，價格$150，時間戳記為美東時間11:46:45，附帶條件代碼17、9及41（交易中心開盤價、集合競價、豁免穿透交易規則）。股價一度衝至176.52，盤中低點149.34，並在收盤集合競價以$160.95成交7.85百萬股作收——較發行價19.2%。總計：513.5百萬股，$84.1十億，8.57百萬筆成交，在略長於四小時的正常交易時段內完成。

查詢掛牌日單行：首筆報價、開盤撮合、收盤撮合、全日總計
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT toFloat64(final_issue_price)
        FROM global_markets.stocks_ipos
        WHERE ticker = 'SPCX'
        ORDER BY listing_date DESC LIMIT 1
    ) AS issue_px,
    (
        SELECT (formatDateTime(toTimeZone(min(sip_timestamp), 'America/New_York'), '%H:%i:%S'), round(count() / 1e6, 2))
        FROM global_markets.cache_stocks_quotes
        WHERE ticker = 'SPCX'
          AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-06-13 00:00:00', 9)
    ) AS q,
    (
        SELECT (round(toFloat64(sum(volume)) / 1e6, 1), round(sum(toFloat64(close) * toFloat64(volume)) / 1e9, 1),
                round(max(toFloat64(high)), 2), round(min(toFloat64(low)), 2))
        FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPCX'
          AND window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-06-13 00:00:00')
    ) AS bars
SELECT
    q.1 AS first_quote_et,
    q.2 AS day_quote_updates_m,
    formatDateTime(toTimeZone(minIf(sip_timestamp, has(conditions, 17)), 'America/New_York'), '%H:%i:%S') AS opening_cross_et,
    round(toFloat64(maxIf(size, has(conditions, 17))) / 1e6, 2) AS opening_cross_shares_m,
    round(toFloat64(argMaxIf(price, size, has(conditions, 17))), 2) AS opening_cross_price,
    formatDateTime(toTimeZone(minIf(sip_timestamp, has(conditions, 8)), 'America/New_York'), '%H:%i:%S') AS closing_cross_et,
    round(toFloat64(maxIf(size, has(conditions, 8))) / 1e6, 2) AS closing_cross_shares_m,
    round(toFloat64(argMaxIf(price, size, has(conditions, 8))), 2) AS closing_cross_price,
    round((toFloat64(argMaxIf(price, size, has(conditions, 8))) / issue_px - 1) * 100, 1) AS close_vs_issue_pct,
    round(count() / 1e6, 2) AS day_prints_m,
    bars.1 AS day_shares_m,
    bars.2 AS day_dollar_bn,
    bars.3 AS day_high,
    bars.4 AS day_low
FROM global_markets.stocks_trades
WHERE ticker = 'SPCX'
  AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-06-13 00:00:00', 9)

報價串流說明了價格發現的後半段。在集合競價之前，唯一的全國最佳買賣價更新僅有鎖定的指示性報價（在09:30的半小時內共18次，價差依設計為零）。隨後報價大量湧入：光是在11:30時段內就有445211次更新，買賣價差中位數為30美分（18.6個基點）。到了13:00時段，中位數已降至6美分（3.5個基點）——價差並非天生就窄；這檔股票的價差在兩小時內收窄。

查詢首日每半小時：報價更新與中位數價差尋覓水準
每個數據背後的精確 SQL 語法
SELECT
    formatDateTime(toStartOfInterval(toTimeZone(sip_timestamp, 'America/New_York'), INTERVAL 30 MINUTE), '%H:%i') AS et_bucket,
    count() AS quote_updates,
    round(quantileDeterministicIf(0.5)(toFloat64(ask_price) - toFloat64(bid_price), toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price >= bid_price) * 100, 1) AS med_spread_cents,
    round(quantileDeterministicIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price >= bid_price), 2) AS med_spread_bps
FROM global_markets.cache_stocks_quotes
WHERE ticker = 'SPCX'
  AND sip_timestamp >= toDateTime64('2026-06-12 13:30:00', 9) AND sip_timestamp < toDateTime64('2026-06-12 20:00:00', 9)
GROUP BY et_bucket
ORDER BY et_bucket

逐日回顧

查詢各交易時段：常規交易收盤價、收盤對收盤變動、全日成交量
每個數據背後的精確 SQL 語法
SELECT
    et_date,
    close_usd,
    round(if(prev_close = 0, NULL, (close_usd / prev_close - 1) * 100), 1) AS change_pct,
    shares_m,
    dollar_bn
FROM (
    SELECT et_date, close_usd, shares_m, dollar_bn,
           lagInFrame(close_usd) OVER (ORDER BY et_date ASC ROWS BETWEEN 1 PRECEDING AND CURRENT ROW) AS prev_close
    FROM (
        SELECT
            toDate(toTimeZone(window_start, 'America/New_York')) AS et_date,
            round(argMaxIf(toFloat64(close), window_start, (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199), 2) AS close_usd,
            round(toFloat64(sum(volume)) / 1e6, 1) AS shares_m,
            round(sum(toFloat64(close) * toFloat64(volume)) / 1e9, 2) AS dollar_bn
        FROM global_markets.delayed_stocks_minute_aggs
        WHERE ticker = 'SPCX'
          AND window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')
        GROUP BY et_date
    )
)
ORDER BY et_date

走勢概要：19.3% 在第二個交易日，2026-06-16 創下 $201.99 的峰值收盤價，隨後連續三個交易日下跌——最劇烈的一次是 2026-06-22 的 -16.4% 跌幅，當天是 6 月 19 日假期後的第一個交易日，也是票據發行啟動的日子。跌勢在 2026-06-26 觸底至 $152.74；最後兩個交易日收盤分別上漲 7.4% 和 4.1%（2026-06-29 有獨立的每日回顧和逐筆深度解析）。成交量衰減的速度快於價格復甦：首日 513.5 百萬股，2026-06-30 為 75.8 百萬股。

兩個月極值都經得起單筆交叉查驗——且存在於不同的市場階段。$225.64 高點出現在美東時間 2026-06-16 10:02：2 根 K 棒在 1 美分內，第一分鐘峰值有 47699 筆交易。$146.88 低點出現在美東時間 2026-06-23 04:11，2 根 K 棒在 1 美分內，該分鐘有 14844 筆交易。常規交易時段低點為 $147.11，高出 $0.23；任何「6 月低點」的數字都應說明指的是哪一個。

全市場成交量第四大的代碼

將6月12日至30日期間所有在美上市代碼的常規交易時段美元成交量進行排名——這是一次完整的全市場合計，而非候選清單——這檔全新掛牌的代碼位居第四：344.6億美元，僅次於MU（585.4億美元）、SPY與QQQ，領先NVDA（253.1億美元）、TSLA及AAPL。每一列數據都基於相同的12個交易日。

查詢全美市場 6 月 12–30 日常規交易美元成交額排名
每個數據背後的精確 SQL 語法
SELECT
    ticker,
    round(sum(toFloat64(volume) * toFloat64(close)) / 1e9, 1) AS regular_hours_dollar_bn,
    round(100 * sum(toFloat64(volume) * toFloat64(close)) / max(sum(toFloat64(volume) * toFloat64(close))) OVER (), 1) AS pct_of_leader,
    toUInt8(ticker = 'SPCX') AS is_spcx
FROM global_markets.delayed_stocks_minute_aggs
WHERE window_start >= toDateTime('2026-06-12 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')
  AND (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199
GROUP BY ticker
ORDER BY regular_hours_dollar_bn DESC
LIMIT 12

這卷磁帶的構成

查詢SPCX 完整成交明細單行：成交筆數、每筆股數與報價統計
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT (round(count() / 1e6, 2),
                round(100.0 * countIf(bid_price > 0 AND ask_price > 0 AND ask_price > bid_price) / count(), 2),
                countIf(bid_price > 0 AND ask_price > 0 AND ask_price = bid_price),
                countIf(bid_price > 0 AND ask_price > 0 AND ask_price < bid_price),
                countIf(bid_price <= 0 OR ask_price <= 0),
                countIf(bid_price > 0 AND ask_price > 0 AND ask_price < bid_price AND sip_timestamp < toDateTime64('2026-06-13 00:00:00', 9)),
                countIf(bid_price > 0 AND ask_price > 0 AND ask_price < bid_price AND sip_timestamp >= toDateTime64('2026-06-30 00:00:00', 9)))
        FROM global_markets.cache_stocks_quotes
        WHERE ticker = 'SPCX'
          AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
    ) AS quote_census
SELECT
    round(count() / 1e6, 2) AS prints_m,
    quantileDeterministic(0.5)(toFloat64(size), toUInt64(abs(sequence_number))) AS median_print_shares,
    round(avg(toFloat64(size)), 1) AS avg_print_shares,
    round(100.0 * countIf(size < 100) / count(), 1) AS odd_lot_pct_of_prints,
    round(100.0 * countIf(toFloat64(size) != round(toFloat64(size))) / count(), 2) AS fractional_pct_of_prints,
    quote_census.1 AS nbbo_updates_m,
    quote_census.2 AS clean_two_sided_pct,
    quote_census.3 AS locked_updates,
    quote_census.4 AS crossed_updates,
    quote_census.5 AS one_sided_or_empty_updates,
    quote_census.6 AS crossed_first_session,
    quote_census.7 AS crossed_final_session
FROM global_markets.stocks_trades
WHERE ticker = 'SPCX'
  AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)

質地是細小字體且報價密集：41.01 百萬筆成交，中位數為 10 股（平均 64.2 股——鉅額交叉交易拉高了均值），81.9% 筆畸零股（低於 100 股），8.73% 筆零碎股——與散戶應用程式拆分訂單、由造市商接單的模式一致。報價方面：11.78 百萬次 NBBO 更新，99.32% 次為乾淨的雙邊報價；46377 次短暫交叉（買價高於賣價——交易場所不同步），從第一天的 17730 次降至 6 月 30 日的 437 次；34118 次鎖定；116 次為單邊或空白報價。以下價差統計排除交叉與單邊報價，面板內附有剔除筆數。

價差收斂的階段

新股掛牌的標誌性過程，就是其價差逐步找到一個穩定水準——以每個交易時段衡量，採用每次報價更新的中位數與時間加權平均值。首日從 11:46 的交叉撮合開始計算；若納入鎖定的開盤前參考價，會讓數據失真。

查詢熟成曲線：各時段常規交易價差，逐筆更新與時間加權
每個數據背後的精確 SQL 語法
SELECT
    session,
    quote_updates,
    invalid_dropped,
    med_spread_cents,
    tw_spread_cents,
    med_spread_bps,
    tw_spread_bps,
    round(100 * (tw_spread_bps / min(tw_spread_bps) OVER () - 1), 0) AS pct_above_tightest_session
FROM (
    SELECT
        session,
        count() AS quote_updates,
        countIf(NOT valid) AS invalid_dropped,
        round(quantileDeterministicIf(0.5)(spread, toUInt64(ts_us), valid) * 100, 1) AS med_spread_cents,
        round(sumIf(spread * dt, valid AND dt > 0) / sumIf(dt, valid AND dt > 0) * 100, 1) AS tw_spread_cents,
        round(quantileDeterministicIf(0.5)(spread / mid * 10000, toUInt64(ts_us), valid), 2) AS med_spread_bps,
        round(sumIf(spread / mid * dt, valid AND dt > 0) / sumIf(dt, valid AND dt > 0) * 10000, 2) AS tw_spread_bps
    FROM (
        SELECT session, spread, mid, valid, ts_us,
               greatest(if(next_us = 0, end_us, least(next_us, end_us)) - ts_us, 0) AS dt
        FROM (
            SELECT
                toDate(toTimeZone(sip_timestamp, 'America/New_York')) AS session,
                toFloat64(ask_price) - toFloat64(bid_price) AS spread,
                (toFloat64(ask_price) + toFloat64(bid_price)) / 2 AS mid,
                (bid_price > 0 AND ask_price > 0 AND ask_price >= bid_price) AS valid,
                toUnixTimestamp64Micro(sip_timestamp) AS ts_us,
                toUnixTimestamp64Micro(toDateTime64(concat(toString(toDate(toTimeZone(sip_timestamp, 'America/New_York'))), ' 20:00:00'), 6, 'UTC')) AS end_us,
                leadInFrame(toUnixTimestamp64Micro(sip_timestamp)) OVER (PARTITION BY toDate(toTimeZone(sip_timestamp, 'America/New_York')) ORDER BY sip_timestamp ASC, sequence_number ASC ROWS BETWEEN CURRENT ROW AND UNBOUNDED FOLLOWING) AS next_us
            FROM global_markets.cache_stocks_quotes
            WHERE ticker = 'SPCX'
              AND sip_timestamp >= toDateTime64('2026-06-12 15:46:00', 9)
              AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
              AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
        )
    )
    GROUP BY session
)
ORDER BY session

以時間加權計算，價差從首日的 23.5 美分（7.64 基點）收窄至 2026-06-30 的 7.9 美分（4.7 基點）——以美元計價約收窄三分之二，但以相對值計則幅度小得多；在股價於 $146.88 至 $225.64 區間波動的這段期間，美元計價與相對值的走勢出現背離。價差最窄的時段是 2026-06-22 ，為 2 基點，隨後在 2026-06-17 （ 8.96 基點，股價見頂後的次一時段）與 2026-06-24 （ 7.38 基點）再度擴大，後者恰逢成交量從 152.3 百萬股降至 71.7 百萬股。作為對比，以下是 6 月 30 日的三個參考基準：

查詢6 月 30 日錨定對照：一檔巨型股、SPCX 與一檔冷門小型股，同時段、同計算方式
每個數據背後的精確 SQL 語法
SELECT
    ticker,
    count() AS quote_updates,
    countIf(NOT valid) AS invalid_dropped,
    round(quantileDeterministicIf(0.5)(spread, toUInt64(ts_us), valid) * 100, 1) AS med_spread_cents,
    round(quantileDeterministicIf(0.5)(spread / mid * 10000, toUInt64(ts_us), valid), 2) AS med_spread_bps,
    round(sumIf(spread / mid * dt, valid AND dt > 0) / sumIf(dt, valid AND dt > 0) * 10000, 2) AS tw_spread_bps
FROM (
    SELECT ticker, spread, mid, valid, ts_us,
           greatest(if(next_us = 0, end_us, least(next_us, end_us)) - ts_us, 0) AS dt
    FROM (
        SELECT
            ticker,
            toFloat64(ask_price) - toFloat64(bid_price) AS spread,
            (toFloat64(ask_price) + toFloat64(bid_price)) / 2 AS mid,
            (bid_price > 0 AND ask_price > 0 AND ask_price >= bid_price) AS valid,
            toUnixTimestamp64Micro(sip_timestamp) AS ts_us,
            toUnixTimestamp64Micro(toDateTime64('2026-06-30 20:00:00', 6, 'UTC')) AS end_us,
            leadInFrame(toUnixTimestamp64Micro(sip_timestamp)) OVER (PARTITION BY ticker ORDER BY sip_timestamp ASC, sequence_number ASC ROWS BETWEEN CURRENT ROW AND UNBOUNDED FOLLOWING) AS next_us
        FROM global_markets.cache_stocks_quotes
        WHERE ticker IN ('SPCX', 'AAPL', 'NATH')
          AND sip_timestamp >= toDateTime64('2026-06-30 13:30:00', 9)
          AND sip_timestamp < toDateTime64('2026-06-30 20:00:00', 9)
    )
)
GROUP BY ticker
ORDER BY ticker

蘋果的報價價差中位數： 3 美分（ 1.04 基點）。SPCX： 6 美分（ 3.54 基點）。Nathan's Famous，全時段僅 1036 次報價更新： 30 美分（ 29.66 基點）。掛牌第十八天，SpaceX 的報價價差比巨型股寬幾倍，但比冷門股窄好幾倍。

第三天起的選擇權

查詢SpaceX 選擇權市場單行：總計、到期結構、旗艦合約
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT (round(sum(toFloat64(price) * size) * 100 / 1e9, 2), round(sum(size) / 1e6, 1))
        FROM global_markets.options_trades
        WHERE startsWith(ticker, 'O:AAPL') AND length(ticker) = 21
          AND sip_timestamp >= toDateTime64('2026-06-01 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
    ) AS aapl,
    (
        SELECT (
            concat('$', toString(intDiv(toUInt32OrZero(substring(ticker, 14, 8)), 1000)),
                   if(substring(ticker, 13, 1) = 'P', ' put', ' call'),
                   ', expiry 20', substring(ticker, 7, 2), '-', substring(ticker, 9, 2), '-', substring(ticker, 11, 2)),
            toUInt64(sum(size)), toUInt64(count()),
            round(toFloat64(sum(toFloat64(price) * size)) / toFloat64(sum(size)), 2),
            round(sum(toFloat64(price) * size) * 100 / 1e6, 1))
        FROM global_markets.options_trades
        WHERE startsWith(ticker, 'O:SPCX') AND length(ticker) = 21
          AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
        GROUP BY ticker ORDER BY sum(size) DESC LIMIT 1
    ) AS busiest,
    (
        SELECT (
            concat('$', toString(intDiv(toUInt32OrZero(substring(ticker, 14, 8)), 1000)),
                   if(substring(ticker, 13, 1) = 'P', ' put', ' call'),
                   ', expiry 20', substring(ticker, 7, 2), '-', substring(ticker, 9, 2), '-', substring(ticker, 11, 2)),
            round(toFloat64(sum(toFloat64(price) * size)) / toFloat64(sum(size)), 2),
            round(sum(toFloat64(price) * size) * 100 / 1e6, 1))
        FROM global_markets.options_trades
        WHERE startsWith(ticker, 'O:SPCX') AND length(ticker) = 21
          AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
        GROUP BY ticker ORDER BY sum(toFloat64(price) * size) DESC LIMIT 1
    ) AS premium_magnet,
    (
        SELECT max(pc)
        FROM (
            SELECT round(toFloat64(sumIf(size, substring(ticker, 13, 1) = 'P')) / toFloat64(sumIf(size, substring(ticker, 13, 1) = 'C')), 3) AS pc
            FROM global_markets.options_trades
            WHERE startsWith(ticker, 'O:SPCX') AND length(ticker) = 21
              AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
            GROUP BY toDate(sip_timestamp)
        )
    ) AS max_daily_pc
SELECT
    formatDateTime(toTimeZone(min(sip_timestamp), 'America/New_York'), '%Y-%m-%d %H:%i:%S') AS first_print_et,
    uniqExact(toDate(sip_timestamp)) AS option_sessions,
    round(count() / 1e6, 2) AS prints_m,
    uniqExact(ticker) AS distinct_contracts,
    round(sum(size) / 1e6, 2) AS contracts_traded_m,
    round(sum(toFloat64(price) * size) * 100 / 1e9, 2) AS premium_notional_busd,
    round(toFloat64(sumIf(size, substring(ticker, 13, 1) = 'P')) / toFloat64(sumIf(size, substring(ticker, 13, 1) = 'C')), 2) AS month_put_call_ratio,
    max_daily_pc AS max_session_put_call_ratio,
    uniqExact(substring(ticker, 7, 6)) AS expiries_traded,
    concat('20', substring(max(substring(ticker, 7, 6)), 1, 2), '-', substring(max(substring(ticker, 7, 6)), 3, 2), '-', substring(max(substring(ticker, 7, 6)), 5, 2)) AS longest_expiry,
    round(100 * toFloat64(sumIf(size, substring(ticker, 7, 6) = '260618')) / toFloat64(sum(size)), 1) AS jun18_expiry_share_pct,
    busiest.1 AS busiest_contract,
    busiest.2 AS busiest_contract_volume,
    busiest.3 AS busiest_contract_prints,
    busiest.4 AS busiest_contract_avg_premium,
    busiest.5 AS busiest_contract_notional_musd,
    premium_magnet.1 AS top_premium_contract,
    premium_magnet.2 AS top_premium_avg,
    premium_magnet.3 AS top_premium_notional_musd,
    aapl.1 AS aapl_full_june_notional_busd,
    aapl.2 AS aapl_full_june_contracts_m,
    round(round(sum(toFloat64(price) * size) * 100 / 1e9, 2) - aapl.1, 2) AS spcx_minus_aapl_notional_busd
FROM global_markets.options_trades
WHERE startsWith(ticker, 'O:SPCX') AND length(ticker) = 21
  AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)

選擇權於美東時間 2026-06-16 09:30:00 掛牌——該股的第三個交易時段。在 10 個選擇權交易時段中：2.18 百萬筆成交、10.4 百萬張合約，涵蓋 3199 個掛牌序列，總權利金達 $9.15 十億（價格乘以標準的 100 股乘數）——比 AAPL 選擇權在整個六月所收取的權利金還多出 $0.31 十億（27 百萬張合約收取 $8.84 十億；十個交易時段對上一個完整月份——刻意不對稱的比較，但論點依然成立）。22 個到期日有交易，從週四到期的週選擇權（六月十八日，當週五市場休市）一路到 2028-12-15 LEAPS；光是第一個週選擇權就佔了當月成交量的 26.7%。最活躍的合約：$175 put, expiry 2026-06-18——203765 張合約，透過 41648 筆成交，平均權利金為 $1.43。權利金磁鐵：$225 call, expiry 2026-09-18——$121.3 百萬，價格為 $40.12。

查詢選擇權逐時段：合約量、買權／賣權拆分與賣權／買權比率
每個數據背後的精確 SQL 語法
SELECT
    toDate(sip_timestamp) AS session,
    count() AS prints,
    toUInt64(sum(size)) AS contracts_traded,
    toUInt64(sumIf(size, substring(ticker, 13, 1) = 'C')) AS call_contracts,
    toUInt64(sumIf(size, substring(ticker, 13, 1) = 'P')) AS put_contracts,
    round(toFloat64(sumIf(size, substring(ticker, 13, 1) = 'P')) / toFloat64(sumIf(size, substring(ticker, 13, 1) = 'C')), 2) AS put_call_ratio,
    round(100 * toFloat64(sum(size)) / max(toFloat64(sum(size))) OVER (), 1) AS pct_of_busiest_session
FROM global_markets.options_trades
WHERE startsWith(ticker, 'O:SPCX') AND length(ticker) = 21
  AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
GROUP BY session
ORDER BY session

買權每個交易時段的成交量都超過賣權：每日賣權／買權比率在 2026-06-17 達到峰值 0.987，接近價格高點，並在 2026-06-29 觸底至 0.46，當天該股收盤 7.4% 上漲——賣權成交量隨價格達到峰值，而非谷底。最繁忙的交易時段是 2026-06-18，即第一個週選擇權的到期日：1844490 張合約。

查詢合約分佈：依履約價區間的買權與賣權成交量
每個數據背後的精確 SQL 語法
SELECT
    concat('$', toString(toUInt32(bucket))) AS strike_bucket,
    call_contracts,
    put_contracts,
    round(100.0 * put_contracts / (call_contracts + put_contracts), 1) AS put_share_pct,
    round(100 * (call_contracts + put_contracts) / max(call_contracts + put_contracts) OVER (), 1) AS pct_of_biggest_bucket
FROM (
    SELECT
        least(floor(toFloat64(toUInt32OrZero(substring(ticker, 14, 8))) / 1000 / 25) * 25, 450) AS bucket,
        toUInt64(sumIf(size, substring(ticker, 13, 1) = 'C')) AS call_contracts,
        toUInt64(sumIf(size, substring(ticker, 13, 1) = 'P')) AS put_contracts
    FROM global_markets.options_trades
    WHERE startsWith(ticker, 'O:SPCX') AND length(ticker) = 21
      AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)
    GROUP BY bucket
)
ORDER BY toUInt32OrZero(substring(strike_bucket, 2))

履約價分佈圖呈現圍繞價格路徑的槓鈴型態。$150 區間承接了最多成交量，賣權佔比 55%——價平附近的雙向交易。在交易區間以下，賣權主導（$125 區間中有 92.7% 為賣權）；在交易區間以上，則是買權主導（$250 處賣權佔比 1.6%），其中 $450 區間的買權合約達 42228 張，大約是當月高點的兩倍。

查詢交易最熱絡合約的成本：其三段交易時段的 NBBO 價差
每個數據背後的精確 SQL 語法
SELECT
    toDate(sip_timestamp) AS session,
    count() AS nbbo_updates,
    countIf(bid_price <= 0 OR ask_price < bid_price) AS dropped_bad_quotes,
    round(avgIf(toFloat64(ask_price) - toFloat64(bid_price), bid_price > 0 AND ask_price >= bid_price) * 100, 1) AS avg_spread_cents,
    round(quantileDeterministicIf(0.5)(toFloat64(ask_price) - toFloat64(bid_price), toUInt64(sequence_number), bid_price > 0 AND ask_price >= bid_price) * 100, 1) AS med_spread_cents,
    round(100 * avgIf((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2), bid_price > 0 AND ask_price >= bid_price), 2) AS avg_spread_pct_of_mid
FROM global_markets.cache_options_quotes
WHERE ticker = 'O:SPCX260618P00175000'
  AND sip_timestamp >= toDateTime64('2026-06-16 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-06-19 00:00:00', 9)
GROUP BY session
ORDER BY session

交易成本從第一個小時起就極為緊縮：最活躍的合約在其首個交易時段，平均 NBBO 價差為 10.3 美分（佔中價的 6.7%；中位數為 10 美分），到了到期日，中位數進一步收窄至 5 美分（佔中價的 5.23%，93198 次報價更新，37 筆不良報價被剔除並計入）。掛牌僅數日的流動性核心部位，價差落在五到十美分之間——遠價外兩翼的成本更高，而此分析並不代表它們的情況。

新聞開關與空頭

查詢資訊流單行：標記切換啟動、訊息來源組成、共現標籤
每個數據背後的精確 SQL 語法
WITH
    (
        SELECT count()
        FROM global_markets.stocks_news
        WHERE has(tickers, 'SPCX')
          AND published_utc >= toDateTime('2025-06-01 00:00:00')
          AND published_utc < toDateTime('2026-06-01 00:00:00')
    ) AS prior_12mo,
    (
        SELECT (toString(d), n)
        FROM (
            SELECT toDate(toTimeZone(published_utc, 'America/New_York')) AS d, count() AS n
            FROM global_markets.stocks_news
            WHERE has(tickers, 'SPCX')
              AND published_utc >= toDateTime('2026-06-01 00:00:00')
              AND published_utc < toDateTime('2026-07-01 04:00:00')
            GROUP BY d ORDER BY n DESC, d ASC LIMIT 1
        )
    ) AS peak_day,
    (
        SELECT (JSONExtractString(any(publisher), 'name'), count())
        FROM global_markets.stocks_news
        WHERE has(tickers, 'SPCX')
          AND published_utc >= toDateTime('2026-06-01 00:00:00')
          AND published_utc < toDateTime('2026-07-01 04:00:00')
        GROUP BY JSONExtractString(publisher, 'name') ORDER BY count() DESC LIMIT 1
    ) AS top_pub,
    (
        SELECT n
        FROM (
            SELECT toDate(toTimeZone(published_utc, 'America/New_York')) AS d, count() AS n
            FROM global_markets.stocks_news
            WHERE has(tickers, 'SPCX')
              AND published_utc >= toDateTime('2026-06-01 00:00:00')
              AND published_utc < toDateTime('2026-07-01 04:00:00')
            GROUP BY d ORDER BY d ASC LIMIT 1
        )
    ) AS first_day_n,
    (
        SELECT substring(title, 1, 90)
        FROM global_markets.stocks_news
        WHERE has(tickers, 'SPCX')
          AND published_utc >= toDateTime('2026-06-22 04:00:00')
          AND published_utc < toDateTime('2026-06-24 04:00:00')
          AND title ILIKE '%bond%'
        ORDER BY published_utc ASC LIMIT 1
    ) AS notes_headline
SELECT
    prior_12mo AS prior_12_months_articles,
    toString(min(toDate(toTimeZone(published_utc, 'America/New_York')))) AS first_tagged_day,
    first_day_n AS first_day_articles,
    peak_day.1 AS peak_day_date,
    peak_day.2 AS peak_day_articles,
    count() AS june_articles,
    uniqExact(JSONExtractString(publisher, 'name')) AS publishers,
    top_pub.1 AS top_publisher,
    top_pub.2 AS top_publisher_articles,
    round(100.0 * top_pub.2 / count(), 0) AS top_publisher_pct,
    countIf(has(tickers, 'TSLA')) AS tsla_co_articles,
    countIf(has(tickers, 'NVDA')) AS nvda_co_articles,
    countIf(hasAny(tickers, ['GOOG', 'GOOGL', 'GOOGN', 'GOOGM'])) AS alphabet_co_articles,
    countIf(has(tickers, 'RKLB')) AS rklb_co_articles,
    countIf(has(tickers, 'ASTS')) AS asts_co_articles,
    countIf(has(tickers, 'TSLA')) - countIf(has(tickers, 'RKLB')) AS tsla_minus_rklb,
    notes_headline AS notes_offering_headline
FROM global_markets.stocks_news
WHERE has(tickers, 'SPCX')
  AND published_utc >= toDateTime('2026-06-01 00:00:00')
  AND published_utc < toDateTime('2026-07-01 04:00:00')

新聞標記本身就是收據：上市前十二個月內有 0 篇標記 SPCX 的文章，接著在 2026-06-11（定價日）有 14 篇，於 2026-06-12 達到 42 篇的高峰，當月合計 347 篇。請以存疑態度解讀這些數字：總共 4 家發布者，其中 The Motley Fool 一家就寫了 65% 篇——這只是一個資訊源的關注度，而非全球媒體的焦點。共同標記顯示了報導框架：TSLA 出現在 83 篇文章中，NVDA 在 59 篇，Alphabet（合併股票類別）在 57 篇，而 Rocket Lab（21 篇）與 AST SpaceMobile（15 篇）則遠遠落後：此資訊源將其視為一則巨型股題材，而非太空產業題材。

查詢FINRA 場外短倉量逐時段：標記為短倉的股數與申報成交量
每個數據背後的精確 SQL 語法
SELECT
    date,
    round(toFloat64(any(short_volume)) / 1e6, 2) AS short_shares_m,
    round(toFloat64(any(total_volume)) / 1e6, 2) AS offexchange_total_m,
    round(100 * toFloat64(any(short_volume)) / toFloat64(any(total_volume)), 1) AS short_pct_of_offexchange
FROM global_markets.stocks_short_volume
WHERE ticker = 'SPCX' AND date >= toDate('2026-06-01') AND date <= toDate('2026-06-30')
GROUP BY date
ORDER BY date

空頭在第一天就現身——還附帶了定義。場外空頭成交量，是指 FINRA 申報（場外）成交量中被標記為空頭的部位；其中很大一部分是造市者為了滿足客戶買單而進行的賣空——這屬於例行市場運作機制，並非未平倉空頭部位。SPCX 的標記空頭佔比從上市日的 33.7% 開始，到 2026-06-30 攀升至 71%，而同期申報的場外成交量則從 131.53 百萬股降至 35.77 百萬股。這種共變關係是這項數據所能呈現的現象；其代表的意義則不在這項數據的範圍內。

查詢首筆短倉持倉數據，附舊主體斷崖式變化作為自身收據
每個數據背後的精確 SQL 語法
SELECT
    toString(maxIf(settlement_date, settlement_date >= toDate('2026-06-01'))) AS new_entity_settlement,
    round(toFloat64(maxIf(short_interest, settlement_date >= toDate('2026-06-01'))) / 1e6, 2) AS shares_short_m,
    round(toFloat64(maxIf(avg_daily_volume, settlement_date >= toDate('2026-06-01'))) / 1e6, 2) AS avg_daily_volume_m,
    maxIf(days_to_cover, settlement_date >= toDate('2026-06-01')) AS reported_days_to_cover,
    round(toFloat64(maxIf(short_interest, settlement_date >= toDate('2026-06-01'))) / toFloat64(maxIf(avg_daily_volume, settlement_date >= toDate('2026-06-01'))), 2) AS implied_days_to_cover,
    countIf(settlement_date > toDate('2026-06-15')) AS settlements_published_after_june15,
    toString(argMaxIf(settlement_date, settlement_date, settlement_date < toDate('2026-06-01'))) AS last_old_entity_settlement,
    argMaxIf(short_interest, settlement_date, settlement_date < toDate('2026-06-01')) AS last_old_entity_short_interest,
    round(toFloat64(maxIf(short_interest, settlement_date >= toDate('2026-06-01'))) / toFloat64(argMaxIf(short_interest, settlement_date, settlement_date < toDate('2026-06-01'))), 0) AS jump_multiple_vs_old_entity
FROM global_markets.stocks_short_interest
WHERE ticker = 'SPCX'

實際的未平倉空頭部位——即截至某一結算日的未平倉合約——首次於 2026-06-30 公布：111.3 百萬股的空頭部位，對比 151.63 百萬股的日均成交量。數據供應商報告的平倉天數為 1——這是一個下限；原始比率為 0.73：空頭能在不到一個平均交易日內完成回補。前身實體的最終結算數據（2026-03-31）顯示為 9711 股——再次出現代碼重複使用的斷層。自本頁初版發布以來，1 之後的結算數據（6 月 30 日）已經公布，且數據來源已將 6 月 15 日的數據大幅向上修正——上述數字為當前記錄，每次重新生成時都會重新執行查詢，每當這些數字超出其宣告範圍時，本頁面將被保留以供審查。這就是本頁面修正機制依設計運作的結果。

資料說明

完整資料說明
  • 實體邊界（verified_tickers 的基礎）。 stocks_ipos 記錄（Space Exploration Technologies Corp.，於 XNAS 以 $135 掛牌，代碼 2026-06-12）、2026 年 5 月的零成交缺口，以及新聞標籤的切換，共同確立了 6 月 12 日的重新歸屬。6 月 12 日之前的任何一列資料都不歸屬於 SpaceX；frontmatter 中的 verified_tickers: ["SPCX"] 是針對 2026 年 6 月 12 日至 30 日期間，基於這些憑據所做的刻意編輯聲明。
  • 原始成交帶總和重複計算了競價成交量（官方開盤／收盤的重新回報）；股數與金額總計來自分鐘級聚合數據，大宗交易規模則來自大宗交易揭示（6 月 29 日深度分析推導出該修正）。
  • 首日為不完整交易時段 — 報價始於美東時間 09:50:01，首筆成交於美東時間 11:46:45。首日最高價／最低價為分鐘 K 線的極值；月度極值在計分板中附有誤差在一美分以內的佐證次數。
  • EDGAR 計數以 accession_number 去重，並篩選 CIK 0001181412；不相關的 "Space Exploration I" Form D 申報者（CIK 0002130081）在建構時即已排除。
  • 尚無可發布的基本面數據： 三張財務報表表格中，SpaceX 的資料列合計為 0 列。
  • 6 月 29 日的 FINRA 放空成交量檔案全市場範圍內均遭截斷（原始檔案在字母排序中途結束）；SPCX 排序在截斷點之前，其資料列完整 — 6 月 29 日深度分析載有放空成交量探查的憑據。
  • 6 月 19 日全市場休市，此為觀察所得而非假設： 當日 SPY 的 K 線數為 0，因此 SPCX 的 6 月涵蓋 12 個交易日。

方法說明

  • 時間戳記以 UTC 儲存，並以原始 UTC 邊界篩選；2026 年 6 月完全處於美東夏令時間，因此常規交易時段為 UTC 13:30–20:00（美東時間上午 9:30 至下午 4:00）。toTimeZone 僅出現在 SELECT 清單中。
  • 交易時段收盤價為常規交易時段最後一分鐘的 K 線；拍賣價格來自交叉交易記錄（首日：K 線價格 $161.29，交叉交易價格 $160.95）。
  • 成交金額為每分鐘收盤價乘以每分鐘成交量後加總——作為名目金額的收盤價加權近似值。
  • 選擇權到期日、類型與履約價是從 OCC 代碼重新解析（資料表的 expiration_date 欄位並不可靠）；權利金名目金額假設每口合約乘數為 100 股。
  • 每次更新的買賣價差統計數據，對每筆 NBBO 更新賦予相同權重；時間加權統計數據則依每筆報價的存續時間加權。中位數使用確定性分位數計算。
  • 報表生成僅透過受限的唯讀路徑進行批次處理；公開頁面絕不查詢即時資料。資料倉儲保留完整的逐筆歷史記錄，無滾動式到期刪除，因此此分析可隨時從相同資料表重現。資料倉儲狀態截至 2026 年 7 月 3 日。

此列表屬於更廣泛的 2026 年報導的一部分——上半年 IPO 市場的量化分析為其提供了背景脈絡。每個面板都是一個已儲存的物件——圖表、表格與 SQL。可在 Strasmore 終端機上進一步執行任何查詢。

← All SPCX periods
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