{"slug":"how-to-read-an-option-chain","qid":"quoted_spreads","label":"Median quoted bid and ask by strike: SPY calls expiring August 21 2026, regular session of July 15 2026","post_title":"How to Read an Option Chain, Column by Column","post_url":"/blog/how-to-read-an-option-chain#q-quoted_spreads","columns":["strike","median_bid","median_ask","median_spread_cents","quotes_recorded"],"rows":[{"strike":"$740 call","median_bid":24.18,"median_ask":24.31,"median_spread_cents":12,"quotes_recorded":117845},{"strike":"$750 call","median_bid":16.79,"median_ask":16.89,"median_spread_cents":10,"quotes_recorded":149331},{"strike":"$760 call","median_bid":10.68,"median_ask":10.71,"median_spread_cents":3,"quotes_recorded":319658},{"strike":"$770 call","median_bid":5.98,"median_ask":6.01,"median_spread_cents":3,"quotes_recorded":204723},{"strike":"$780 call","median_bid":2.9,"median_ask":2.92,"median_spread_cents":2,"quotes_recorded":157120},{"strike":"$800 call","median_bid":0.53,"median_ask":0.54,"median_spread_cents":1,"quotes_recorded":22658},{"strike":"$820 call","median_bid":0.12,"median_ask":0.13,"median_spread_cents":1,"quotes_recorded":6902}],"shape":"table","sql":"SELECT concat('$', toString(toUInt32(toFloat64(toUInt32OrZero(substring(ticker, length(ticker) - 7, 8))) / 1000)), ' call') AS strike,\n       round(quantileDeterministic(0.5)(toFloat64(bid_price), toUInt64(sip_timestamp)), 2) AS median_bid,\n       round(quantileDeterministic(0.5)(toFloat64(ask_price), toUInt64(sip_timestamp)), 2) AS median_ask,\n       round(100 * quantileDeterministic(0.5)(toFloat64(ask_price - bid_price), toUInt64(sip_timestamp)), 1) AS median_spread_cents,\n       toUInt64(count()) AS quotes_recorded\nFROM global_markets.cache_options_quotes\nWHERE ticker IN ('O:SPY260821C00740000', 'O:SPY260821C00750000', 'O:SPY260821C00760000',\n                 'O:SPY260821C00770000', 'O:SPY260821C00780000', 'O:SPY260821C00800000',\n                 'O:SPY260821C00820000')\n  AND sip_timestamp >= '2026-07-15 13:30:00'\n  AND sip_timestamp < '2026-07-15 20:00:00'\n  AND bid_price > 0\n  AND ask_price > bid_price\nGROUP BY ticker\nORDER BY toUInt32OrZero(substring(ticker, length(ticker) - 7, 8))","computed_at":"2026-07-31T08:38:45.085074+00:00","elapsed":0.002811601}