STRASMORE/EXPLORE 2,170 QUERIES

The full bear market: SPY peak close to trough close, and the road back

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 2026-07-26, from Lehman's Collapse: The 2008 Tape, Replayed.

as of scalar 1×11read in context →
peak date
2007-10-09
peak close
156.41
trough date
2009-03-09
trough close
68.07
peak to trough pct
-56.5
sessions peak to trough
355
lehman monday close
120.34
peak to lehman pct
-23.1
trough vs lehman pct
-43.4
lehman eve reclaim date
2010-12-22
sessions until reclaim
572
Rows × columns
1 × 11
Period covered
Computed
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 The full bear market: SPY peak close to trough close, and the road back, derived from the stored result.
ColumnTypeRangeNotes
peak_date date 2007-10-09
peak_close number every row is 156.41 US dollars
trough_date date 2009-03-09
trough_close number every row is 68.07 US dollars
peak_to_trough_pct number every row is -56.5 percent
sessions_peak_to_trough number every row is 355
lehman_monday_close number every row is 120.34 US dollars
peak_to_lehman_pct number every row is -23.1 percent
trough_vs_lehman_pct number every row is -43.4 percent
lehman_eve_reclaim_date date 2010-12-22
sessions_until_reclaim number every row is 572

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.

the exact SQL behind every number 
WITH daily AS (
    SELECT
        toDate(toTimeZone(window_start, 'America/New_York')) AS et_date,
        argMaxIf(toFloat64(close), window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) AS close_usd
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker = 'SPY'
      AND window_start >= toDateTime('2007-01-01 00:00:00') AND window_start < toDateTime('2014-01-01 00:00:00')
    GROUP BY et_date
),
(SELECT argMax(et_date, (close_usd, et_date)) FROM daily WHERE et_date < toDate('2008-09-15')) AS peak_d,
(SELECT argMin(et_date, (close_usd, et_date)) FROM daily WHERE et_date < toDate('2010-01-01')) AS trough_d,
(SELECT max(close_usd) FROM daily WHERE et_date = toDate('2008-09-12')) AS lehman_eve_close,
(SELECT min(et_date) FROM daily WHERE et_date > toDate('2008-09-15') AND close_usd >= lehman_eve_close) AS reclaim_d
SELECT
    toString(peak_d) AS peak_date,
    round(maxIf(close_usd, et_date = peak_d), 2) AS peak_close,
    toString(trough_d) AS trough_date,
    round(maxIf(close_usd, et_date = trough_d), 2) AS trough_close,
    round((maxIf(close_usd, et_date = trough_d) / maxIf(close_usd, et_date = peak_d) - 1) * 100, 1) AS peak_to_trough_pct,
    countIf(et_date > peak_d AND et_date <= trough_d) AS sessions_peak_to_trough,
    round(maxIf(close_usd, et_date = toDate('2008-09-15')), 2) AS lehman_monday_close,
    round((maxIf(close_usd, et_date = toDate('2008-09-15')) / maxIf(close_usd, et_date = peak_d) - 1) * 100, 1) AS peak_to_lehman_pct,
    round((maxIf(close_usd, et_date = trough_d) / maxIf(close_usd, et_date = toDate('2008-09-15')) - 1) * 100, 1) AS trough_vs_lehman_pct,
    toString(reclaim_d) AS lehman_eve_reclaim_date,
    countIf(et_date > toDate('2008-09-15') AND et_date < reclaim_d) AS sessions_until_reclaim
FROM daily

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