How close SPY closes to a whole dollar strike, expiration Fridays vs every other session
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-22, from Cash Settled vs Physical Delivery Options.
| distance_band | monthly_expiry_pct | other_session_pct | expiry_session_count |
|---|---|---|---|
| within 5c | 10.8 | 9.2 | 7 |
| 5c to 15c | 18.5 | 19 | 12 |
| 15c to 30c | 27.7 | 31 | 18 |
| 30c to 50c | 43.1 | 40.8 | 28 |
- Rows × columns
- 4 × 4
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
distance_band |
text | 4 distinct values (15c to 30c, 30c to 50c, 5c to 15c…) | |
monthly_expiry_pct |
number | 10.8 to 43.1 | percent |
other_session_pct |
number | 9.2 to 40.8 | percent |
expiry_session_count |
number | 7 to 28 | count |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
the exact SQL behind every number
SELECT
distance_band,
round(100 * expiry_sessions / sum(expiry_sessions) OVER (), 1) AS monthly_expiry_pct,
round(100 * other_sessions / sum(other_sessions) OVER (), 1) AS other_session_pct,
expiry_sessions AS expiry_session_count
FROM
(
SELECT
multiIf(cents_from_strike < 5.0, 'within 5c',
cents_from_strike < 15.0, '5c to 15c',
cents_from_strike < 30.0, '15c to 30c',
'30c to 50c') AS distance_band,
min(cents_from_strike) AS band_floor,
countIf(is_monthly_expiry = 1) AS expiry_sessions,
countIf(is_monthly_expiry = 0) AS other_sessions
FROM
(
SELECT
round(100 * abs(toFloat64(close) - round(toFloat64(close))), 2) AS cents_from_strike,
(toDayOfWeek(date) = 5 AND toDayOfMonth(date) BETWEEN 15 AND 21) AS is_monthly_expiry
FROM global_markets.stocks_daily_aggs
WHERE ticker = 'SPY'
AND date >= '2021-01-04'
AND date < today()
)
GROUP BY distance_band
)
ORDER BY band_floor
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