{"slug":"fractional-shares-on-the-tape","qid":"size_curve","label":"Small AAPL print sizes: five sessions in January 2026 against five in July 2026","post_title":"How Fractional Shares Hit the Tape","post_url":"/blog/fractional-shares-on-the-tape#q-size_curve","columns":["shares","prints_early_january","prints_early_july"],"rows":[{"shares":0,"prints_early_january":2,"prints_early_july":1191620},{"shares":1,"prints_early_january":1360015,"prints_early_july":331200},{"shares":2,"prints_early_january":121418,"prints_early_july":132674},{"shares":3,"prints_early_january":87856,"prints_early_july":84397},{"shares":4,"prints_early_january":59437,"prints_early_july":71133},{"shares":5,"prints_early_january":100022,"prints_early_july":92309},{"shares":6,"prints_early_january":35753,"prints_early_july":37368},{"shares":7,"prints_early_january":33461,"prints_early_july":28735},{"shares":8,"prints_early_january":24889,"prints_early_july":29334},{"shares":9,"prints_early_january":22939,"prints_early_july":26734},{"shares":10,"prints_early_january":146700,"prints_early_july":101482},{"shares":11,"prints_early_january":19013,"prints_early_july":21309},{"shares":12,"prints_early_january":20312,"prints_early_july":26355},{"shares":13,"prints_early_january":14678,"prints_early_july":17757},{"shares":14,"prints_early_january":14452,"prints_early_july":17331},{"shares":15,"prints_early_january":28471,"prints_early_july":29376},{"shares":16,"prints_early_january":17278,"prints_early_july":19680},{"shares":17,"prints_early_january":14939,"prints_early_july":16017},{"shares":18,"prints_early_january":14806,"prints_early_july":14261},{"shares":19,"prints_early_january":14047,"prints_early_july":17258},{"shares":20,"prints_early_january":70617,"prints_early_july":212021},{"shares":21,"prints_early_january":11622,"prints_early_july":10907},{"shares":22,"prints_early_january":11935,"prints_early_july":11005},{"shares":23,"prints_early_january":9922,"prints_early_july":10129},{"shares":24,"prints_early_january":11846,"prints_early_july":16717},{"shares":25,"prints_early_january":98695,"prints_early_july":54423}],"shape":"table","sql":"SELECT\n    scaffold.shares                        AS shares,\n    toUInt64(ifNull(t.jan_prints, 0))      AS prints_early_january,\n    toUInt64(ifNull(t.jul_prints, 0))      AS prints_early_july\nFROM\n(\n    SELECT toUInt32(arrayJoin(range(0, 26))) AS shares\n) AS scaffold\nLEFT JOIN\n(\n    SELECT\n        toUInt32(floor(toFloat64(size)))                 AS shares,\n        countIf(sip_timestamp <  '2026-02-01 00:00:00')  AS jan_prints,\n        countIf(sip_timestamp >= '2026-07-01 00:00:00')  AS jul_prints\n    FROM global_markets.stocks_trades\n    WHERE ticker = 'AAPL'\n      AND ((sip_timestamp >= '2026-01-05 00:00:00' AND sip_timestamp < '2026-01-10 00:00:00')\n        OR (sip_timestamp >= '2026-07-06 00:00:00' AND sip_timestamp < '2026-07-11 00:00:00'))\n      AND toFloat64(size) < 26\n    GROUP BY shares\n) AS t ON t.shares = scaffold.shares\nORDER BY shares","computed_at":"2026-08-12T15:36:13.956191+00:00","elapsed":1.694077704}