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The touch through the air pocket: median quoted spread and quote rate, 10:36–10:48 ET vs a midday control (12 minutes each)

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 Market Recap: July 7, 2026, The Day in Numbers.

as of table 10×9read in context →
The touch through the air pocket: median quoted spread and quote rate, 10:36–10:48 ET vs a midday control (12 minutes each) — 10 rows by 9 columns, computed from US exchange, SIP and OPRA data.
tickerpocket_spread_bpsmidday_spread_bpsspread_delta_bpspocket_updates_kmidday_updates_kquote_rate_ratiosession_updates_mdropped_invalid_quotes
AMD9.116.512.613.22.94.60.27101
INTC2.751.80.9590.638.42.42.183498
MU5.024.810.2151.815.23.40.96430
NVDA1.041.010.03122442.82.41266
QQQ0.420.280.14281.3143.325.54391
SNDK8.658.89-0.2419.14.64.10.391
SOXL9.8912.48-2.5941.116.92.41.11339
SOXS19.5921.07-1.4950.113.43.80.950
SPY0.270.270237.970.63.44.23803
WDC10.7712.01-1.256.32.32.70.1322
Rows × columns
10 × 9
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 touch through the air pocket: median quoted spread and quote rate, 10:36–10:48 ET vs a midday control (12 minutes each), derived from the stored result.
ColumnTypeRangeNotes
ticker text 10 distinct values (AMD, INTC, MU…)
pocket_spread_bps number 0.27 to 19.59
midday_spread_bps number 0.27 to 21.07
spread_delta_bps number -2.59 to 2.6
pocket_updates_k number 6.3 to 281.3
midday_updates_k number 2.3 to 143.3
quote_rate_ratio number 2 to 4.6 ratio or rate
session_updates_m number 0.13 to 5.54
dropped_invalid_quotes number 0 to 3,498

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.

SELECT
    ticker,
    round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00'), 2) AS pocket_spread_bps,
    round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00'), 2) AS midday_spread_bps,
    round(quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00')
        - quantileExactIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, bid_price > 0 AND ask_price >= bid_price AND sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00'), 2) AS spread_delta_bps,
    round(countIf(sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00') / 1e3, 1) AS pocket_updates_k,
    round(countIf(sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00') / 1e3, 1) AS midday_updates_k,
    round(countIf(sip_timestamp >= '2026-07-07 14:36:00' AND sip_timestamp < '2026-07-07 14:48:00') / countIf(sip_timestamp >= '2026-07-07 17:30:00' AND sip_timestamp < '2026-07-07 17:42:00'), 1) AS quote_rate_ratio,
    round(count() / 1e6, 2) AS session_updates_m,
    countIf(bid_price <= 0 OR ask_price <= 0 OR bid_price > ask_price) AS dropped_invalid_quotes
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('AMD', 'INTC', 'MU', 'NVDA', 'QQQ', 'SNDK', 'SOXL', 'SOXS', 'SPY', 'WDC')
  AND sip_timestamp >= '2026-07-07 13:30:00' AND sip_timestamp < '2026-07-07 20:00:00'
GROUP BY ticker
ORDER BY ticker
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