{"slug":"microstructure-2026-06-29","qid":"minute_outliers","label":"How many of the ten busiest minutes fall outside the open and the close","post_title":"Microstructure Deep-Dive: June 29, 2026","post_url":"/blog/microstructure-2026-06-29#q-minute_outliers","columns":["entries_outside_open_close","entries_in_open_close","outside_entry_minute","outside_entry_trades_m"],"rows":[{"entries_outside_open_close":1,"entries_in_open_close":9,"outside_entry_minute":"10:15","outside_entry_trades_m":0.88}],"shape":"scalar","sql":"SELECT\n    countIf(NOT (et_minute BETWEEN '09:30' AND '09:39' OR et_minute BETWEEN '15:50' AND '16:00')) AS entries_outside_open_close,\n    countIf(et_minute BETWEEN '09:30' AND '09:39' OR et_minute BETWEEN '15:50' AND '16:00') AS entries_in_open_close,\n    maxIf(et_minute, NOT (et_minute BETWEEN '09:30' AND '09:39' OR et_minute BETWEEN '15:50' AND '16:00')) AS outside_entry_minute,\n    maxIf(trades_m, NOT (et_minute BETWEEN '09:30' AND '09:39' OR et_minute BETWEEN '15:50' AND '16:00')) AS outside_entry_trades_m\nFROM (\n    SELECT\n        formatDateTime(toTimeZone(toStartOfMinute(sip_timestamp), 'America/New_York'), '%H:%i') AS et_minute,\n        round(count() / 1e6, 2) AS trades_m\n    FROM global_markets.stocks_trades\n    WHERE sip_timestamp >= '2026-06-29 00:00:00' AND sip_timestamp < '2026-06-30 00:00:00'\n    GROUP BY et_minute\n    ORDER BY trades_m DESC\n    LIMIT 10\n)","computed_at":"2026-07-26T06:08:46.726983+00:00","elapsed":18.312498176}