Largest month-over-month declines in SPY month-end closes
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 2026-09-20, from FINRA Margin Debt Statistics, Explained.
| calendar_label | spy_change_pct |
|---|---|
| Oct 2008 | -16.74 |
| Mar 2020 | -12.99 |
| Feb 2009 | -10.53 |
| Sep 2022 | -9.6 |
| Sep 2008 | -9.32 |
| Dec 2018 | -9.3 |
| Apr 2022 | -8.77 |
| Jun 2008 | -8.77 |
| Jun 2022 | -8.63 |
| Jan 2009 | -8.4 |
- Rows × columns
- 10 × 2
- 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 |
|---|---|---|---|
calendar_label |
text | 10 distinct values (Apr 2022, Dec 2018, Feb 2009…) | |
spy_change_pct |
number | -16.74 to -8.4 | 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 , 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.
WITH daily AS
(
SELECT
toDate(toTimeZone(window_start, 'America/New_York')) AS d,
argMax(close, window_start) AS px
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPY'
AND window_start >= toDateTime('2006-01-01 00:00:00')
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) >= 570
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) < 960
GROUP BY d
),
month_close AS
(
SELECT
toStartOfMonth(d) AS m,
toFloat64(argMax(px, d)) AS close_px
FROM daily
GROUP BY m
),
chained AS
(
SELECT
m,
close_px,
lagInFrame(close_px, 1) OVER (ORDER BY m ASC
ROWS BETWEEN 1 PRECEDING AND CURRENT ROW) AS prior_close
FROM month_close
)
SELECT
formatDateTime(m, '%b %Y') AS calendar_label,
round(100 * (close_px / prior_close - 1), 2) AS spy_change_pct
FROM chained
WHERE prior_close > 0
ORDER BY spy_change_pct ASC
LIMIT 10