Single-stock bucket vs ETF bucket, session by session

Name: Single-stock bucket vs ETF bucket, session by session
Creator: Strasmore
Published: 2026-10-04
License: https://www.strasmore.com/terms/

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 2026-10-04, from Equity vs Index Put/Call Ratio: What's High?.

as of 2026-10-04 series 33×6read in context →

Single-stock bucket vs ETF bucket, session by session — 33 rows by 6 columns, computed 2026-10-04 from US exchange, SIP and OPRA data.
session_date	session_label	equity_ratio	index_style_ratio	ratio_gap	etf_share_of_calls_pct
2026-08-17	Aug 17	0.53	1.47	0.94	46.8
2026-08-18	Aug 18	0.58	1.63	1.05	41.9
2026-08-19	Aug 19	0.44	1.28	0.84	44.5
2026-08-20	Aug 20	0.66	1.87	1.21	42.1
2026-08-21	Aug 21	0.55	1.41	0.86	42.8
2026-08-24	Aug 24	0.59	1.34	0.75	44.9
2026-08-25	Aug 25	0.51	1.23	0.72	35.1
2026-08-26	Aug 26	0.6	1.21	0.61	40.7
2026-08-27	Aug 27	0.49	1.34	0.85	25.8
2026-08-28	Aug 28	0.55	1.48	0.93	40.3
2026-08-31	Aug 31	0.55	1.5	0.95	43.2
2026-09-01	Sep 1	0.65	1.77	1.12	38
2026-09-02	Sep 2	0.55	1.44	0.89	41.7
2026-09-03	Sep 3	0.55	1.53	0.98	33.9
2026-09-04	Sep 4	0.56	1.42	0.86	39
2026-09-08	Sep 8	0.53	1.53	1	33.7
2026-09-09	Sep 9	0.55	1.52	0.97	45.1
2026-09-10	Sep 10	0.53	1.89	1.36	35
2026-09-11	Sep 11	0.63	1.87	1.24	45.9
2026-09-14	Sep 14	0.53	1.35	0.82	49.9
2026-09-15	Sep 15	0.58	1.55	0.97	43.7
2026-09-16	Sep 16	0.58	1.52	0.94	59.5
2026-09-17	Sep 17	0.61	1.19	0.58	47.9
2026-09-18	Sep 18	0.61	1.36	0.75	53.4
2026-09-21	Sep 21	0.5	1.12	0.62	58.8
2026-09-22	Sep 22	0.46	1.14	0.68	44.2
2026-09-23	Sep 23	0.53	1.43	0.9	59.7
2026-09-24	Sep 24	0.57	1.24	0.67	54.3
2026-09-25	Sep 25	0.55	1.23	0.68	53.6
2026-09-28	Sep 28	0.51	1.51	1	55.2
2026-09-29	Sep 29	0.56	1.22	0.66	45.6
2026-09-30	Sep 30	0.5	1.27	0.77	54.2
2026-10-01	Oct 1	0.58	1.31	0.73	50.1

Rows × columns: 33 × 6
Period covered: 2026-08-17 to 2026-10-01
Computed: 2026-10-04
Completeness: No missing values
Source: US exchange, SIP and OPRA market data
Licence: Strasmore terms · free, no signup
Formats: JSON · CSV · the SQL below

What each column holds

Column definitions for Single-stock bucket vs ETF bucket, session by session, derived from the stored result.
Column	Type	Range	Notes
`session_date`	date	2026-08-17 to 2026-10-01
`session_label`	text	33 distinct values (Aug 17, Aug 18, Aug 19…)
`equity_ratio`	number	0.44 to 0.66	ratio or rate
`index_style_ratio`	number	1.12 to 1.89	ratio or rate
`ratio_gap`	number	0.58 to 1.36	ratio or rate
`etf_share_of_calls_pct`	number	25.8 to 59.7	percent

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 2026-10-04, and the query below is what returned them.

Run it yourself

This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.

SELECT
    toString(date)                 AS session_date,
    formatDateTime(date, '%b %e')  AS session_label,
    round(sumIf(volume, startsWith(lower(option_type), 'p') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')), 2) AS equity_ratio,
    round(sumIf(volume, startsWith(lower(option_type), 'p') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA')), 2) AS index_style_ratio,
    round(index_style_ratio - equity_ratio, 2)                                                                            AS ratio_gap,
    round(100 * sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c')), 1)                                                        AS etf_share_of_calls_pct
FROM global_markets.options_greeks
WHERE date >= (SELECT toDate(max(date))
               FROM global_markets.options_greeks
               WHERE volume > 0) - 45
  AND volume > 0
  AND underlying_symbol IN ('AAPL', 'MSFT', 'NVDA', 'AMZN', 'TSLA', 'JPM', 'KO', 'JNJ',
                            'SPY', 'QQQ', 'IWM', 'DIA')
GROUP BY date
HAVING sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA')) > 0
   AND sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')) > 0
ORDER BY date

SQL to run

SELECT
    toString(date)                 AS session_date,
    formatDateTime(date, '%b %e')  AS session_label,
    round(sumIf(volume, startsWith(lower(option_type), 'p') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')), 2) AS equity_ratio,
    round(sumIf(volume, startsWith(lower(option_type), 'p') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA')), 2) AS index_style_ratio,
    round(index_style_ratio - equity_ratio, 2)                                                                            AS ratio_gap,
    round(100 * sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA'))
          / sumIf(volume, startsWith(lower(option_type), 'c')), 1)                                                        AS etf_share_of_calls_pct
FROM global_markets.options_greeks
WHERE date >= (SELECT toDate(max(date))
               FROM global_markets.options_greeks
               WHERE volume > 0) - 45
  AND volume > 0
  AND underlying_symbol IN ('AAPL', 'MSFT', 'NVDA', 'AMZN', 'TSLA', 'JPM', 'KO', 'JNJ',
                            'SPY', 'QQQ', 'IWM', 'DIA')
GROUP BY date
HAVING sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol IN ('SPY', 'QQQ', 'IWM', 'DIA')) > 0
   AND sumIf(volume, startsWith(lower(option_type), 'c') AND underlying_symbol NOT IN ('SPY', 'QQQ', 'IWM', 'DIA')) > 0
ORDER BY date

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