SPY-equivalent circuit breaker levels for the next session

Name: SPY-equivalent circuit breaker levels for the next session
Creator: Strasmore
Published: 2026-11-01
License: https://www.strasmore.com/terms/

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 2026-11-01, from Market-Wide Circuit Breakers Explained.

as of 2026-11-01 table 3×7read in context →

SPY-equivalent circuit breaker levels for the next session — 3 rows by 7 columns, computed 2026-11-01 from US exchange, SIP and OPRA data.
level	threshold	halt_rule	reference_close_label	spy_reference_close	spy_trigger_level	spy_points_to_trigger
Level 1	7% below the prior close	15-minute halt if crossed before 3:25 p.m. ET	October 30	755.72	702.82	52.9
Level 2	13% below the prior close	15-minute halt if crossed before 3:25 p.m. ET	October 30	755.72	657.48	98.24
Level 3	20% below the prior close	Halt for the rest of the day, at any time	October 30	755.72	604.58	151.14

Rows × columns: 3 × 7
Computed: 2026-11-01
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 SPY-equivalent circuit breaker levels for the next session, derived from the stored result.
Column	Type	Range	Notes
`level`	text	3 distinct values (Level 1, Level 2, Level 3)
`threshold`	text	3 distinct values
`halt_rule`	text	2 distinct values
`reference_close_label`	text	1 distinct value (October 30)
`spy_reference_close`	number	every row is 755.72	US dollars
`spy_trigger_level`	number	604.58 to 702.82
`spy_points_to_trigger`	number	52.9 to 151.14

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 2026-11-01, 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
    concat('Level ', toString(multiIf(lv.decline_pct = 7, 1, lv.decline_pct = 13, 2, 3))) AS level,
    concat(toString(lv.decline_pct), '% below the prior close')                           AS threshold,
    if(lv.decline_pct = 20,
       'Halt for the rest of the day, at any time',
       '15-minute halt if crossed before 3:25 p.m. ET')                                   AS halt_rule,
    concat(monthName(ref.d), ' ', toString(toDayOfMonth(ref.d)))                          AS reference_close_label,
    round(ref.c, 2)                                                                       AS spy_reference_close,
    round(ref.c * (100 - lv.decline_pct) / 100, 2)                                        AS spy_trigger_level,
    round(ref.c * lv.decline_pct / 100, 2)                                                AS spy_points_to_trigger
FROM
(
    SELECT arrayJoin([7, 13, 20]) AS decline_pct
) AS lv
CROSS JOIN
(
    SELECT
        date                     AS d,
        toFloat64(max(close))    AS c
    FROM global_markets.stocks_daily_aggs
    WHERE ticker = 'SPY'
      AND date >= today() - 14
    GROUP BY date
    ORDER BY date DESC
    LIMIT 1
) AS ref
ORDER BY lv.decline_pct

SQL to run

SELECT
    concat('Level ', toString(multiIf(lv.decline_pct = 7, 1, lv.decline_pct = 13, 2, 3))) AS level,
    concat(toString(lv.decline_pct), '% below the prior close')                           AS threshold,
    if(lv.decline_pct = 20,
       'Halt for the rest of the day, at any time',
       '15-minute halt if crossed before 3:25 p.m. ET')                                   AS halt_rule,
    concat(monthName(ref.d), ' ', toString(toDayOfMonth(ref.d)))                          AS reference_close_label,
    round(ref.c, 2)                                                                       AS spy_reference_close,
    round(ref.c * (100 - lv.decline_pct) / 100, 2)                                        AS spy_trigger_level,
    round(ref.c * lv.decline_pct / 100, 2)                                                AS spy_points_to_trigger
FROM
(
    SELECT arrayJoin([7, 13, 20]) AS decline_pct
) AS lv
CROSS JOIN
(
    SELECT
        date                     AS d,
        toFloat64(max(close))    AS c
    FROM global_markets.stocks_daily_aggs
    WHERE ticker = 'SPY'
      AND date >= today() - 14
    GROUP BY date
    ORDER BY date DESC
    LIMIT 1
) AS ref
ORDER BY lv.decline_pct

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