{"slug":"how-futures-margin-works","qid":"scan_by_name","label":"One day move size across six household names, five years to July 2026","post_title":"How Futures Margin Works: SPAN and Calls","post_url":"/blog/how-futures-margin-works#q-scan_by_name","columns":["ticker","median_move_pct","pct99_move_pct"],"rows":[{"ticker":"AMD","median_move_pct":1.95,"pct99_move_pct":10.77},{"ticker":"AAPL","median_move_pct":0.86,"pct99_move_pct":5.6},{"ticker":"MSFT","median_move_pct":0.94,"pct99_move_pct":5.47},{"ticker":"XOM","median_move_pct":1,"pct99_move_pct":5.11},{"ticker":"KO","median_move_pct":0.6,"pct99_move_pct":3.52},{"ticker":"SPY","median_move_pct":0.57,"pct99_move_pct":3.25}],"shape":"ranking","sql":"WITH moves AS\n(\n    SELECT\n        ticker,\n        date,\n        toFloat64(close) AS close_px,\n        lagInFrame(toFloat64(close)) OVER\n            (PARTITION BY ticker ORDER BY date ASC ROWS BETWEEN 1 PRECEDING AND CURRENT ROW) AS prev_close\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker IN ('SPY', 'KO', 'XOM', 'MSFT', 'AAPL', 'AMD')\n      AND date >= '2021-08-01'\n      AND date <  '2026-08-01'\n)\nSELECT\n    ticker,\n    round(quantileDeterministic(0.50)(abs(close_px / prev_close - 1) * 100,\n                                      toUInt64(toUnixTimestamp(date))), 2) AS median_move_pct,\n    round(quantileDeterministic(0.99)(abs(close_px / prev_close - 1) * 100,\n                                      toUInt64(toUnixTimestamp(date))), 2) AS pct99_move_pct\nFROM moves\nWHERE prev_close > 0\nGROUP BY ticker\nORDER BY pct99_move_pct DESC","computed_at":"2026-08-10T15:25:14.297084+00:00","elapsed":0.002586647}