{"slug":"can-you-buy-a-put-without-owning-the-stock","qid":"overnight_gaps","label":"overnight_gaps","post_title":"can-you-buy-a-put-without-owning-the-stock","post_url":"/blog/can-you-buy-a-put-without-owning-the-stock#q-overnight_gaps","columns":["symbol","avg_overnight_gap_pct","largest_up_gap_pct","largest_down_gap_pct"],"rows":[{"symbol":"MSFT","avg_overnight_gap_pct":0.78,"largest_up_gap_pct":12.1,"largest_down_gap_pct":8.6},{"symbol":"NVDA","avg_overnight_gap_pct":1.07,"largest_up_gap_pct":6.3,"largest_down_gap_pct":4.2},{"symbol":"KO","avg_overnight_gap_pct":0.44,"largest_up_gap_pct":5.4,"largest_down_gap_pct":1.9},{"symbol":"AAPL","avg_overnight_gap_pct":0.51,"largest_up_gap_pct":3.3,"largest_down_gap_pct":8.6},{"symbol":"SPY","avg_overnight_gap_pct":0.39,"largest_up_gap_pct":2.6,"largest_down_gap_pct":1.6}],"shape":"ranking","sql":"SELECT\n    symbol,\n    round(avg(abs(gap_pct)), 2) AS avg_overnight_gap_pct,\n    round(max(gap_pct), 1)      AS largest_up_gap_pct,\n    round(abs(min(gap_pct)), 1) AS largest_down_gap_pct\nFROM\n(\n    SELECT\n        ticker                        AS symbol,\n        100 * (open / prev_close - 1) AS gap_pct\n    FROM\n    (\n        SELECT\n            ticker,\n            date,\n            open,\n            any(close) OVER (PARTITION BY ticker ORDER BY date\n                             ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING) AS prev_close\n        FROM\n        (\n            SELECT\n                ticker,\n                date,\n                toFloat64(any(open))  AS open,\n                toFloat64(any(close)) AS close\n            FROM global_markets.stocks_daily_aggs\n            WHERE ticker IN ('AAPL', 'KO', 'MSFT', 'NVDA', 'SPY')\n              AND date >= today() - 400\n            GROUP BY ticker, date\n        )\n    )\n    WHERE prev_close > 0\n)\nGROUP BY symbol\nORDER BY largest_up_gap_pct DESC","computed_at":"2026-09-28T15:08:50.297805+00:00","elapsed":0.127295843}