{"slug":"mu-june-2026-deep-dive","qid":"spread_seasoning","label":"The spread by session: regular-hours median in cents and basis points","post_title":"MU: The Biggest Tape of June 2026","post_url":"/blog/mu-june-2026-deep-dive#q-spread_seasoning","columns":["session","med_spread_cents","med_spread_bps","quote_updates","invalid_dropped"],"rows":[{"session":"2026-06-01","med_spread_cents":41,"med_spread_bps":3.96,"quote_updates":497073,"invalid_dropped":428},{"session":"2026-06-02","med_spread_cents":40,"med_spread_bps":3.84,"quote_updates":482044,"invalid_dropped":467},{"session":"2026-06-03","med_spread_cents":46,"med_spread_bps":4.31,"quote_updates":389386,"invalid_dropped":341},{"session":"2026-06-04","med_spread_cents":41,"med_spread_bps":4.1,"quote_updates":546741,"invalid_dropped":456},{"session":"2026-06-05","med_spread_cents":41,"med_spread_bps":4.45,"quote_updates":946220,"invalid_dropped":1190},{"session":"2026-06-08","med_spread_cents":39,"med_spread_bps":4.08,"quote_updates":713643,"invalid_dropped":406},{"session":"2026-06-09","med_spread_cents":52,"med_spread_bps":5.68,"quote_updates":1165907,"invalid_dropped":595},{"session":"2026-06-10","med_spread_cents":47,"med_spread_bps":5.13,"quote_updates":905403,"invalid_dropped":668},{"session":"2026-06-11","med_spread_cents":49,"med_spread_bps":5.31,"quote_updates":1208902,"invalid_dropped":2487},{"session":"2026-06-12","med_spread_cents":52,"med_spread_bps":5.27,"quote_updates":532349,"invalid_dropped":273},{"session":"2026-06-15","med_spread_cents":41,"med_spread_bps":3.81,"quote_updates":740689,"invalid_dropped":450},{"session":"2026-06-16","med_spread_cents":53,"med_spread_bps":5.04,"quote_updates":924925,"invalid_dropped":227},{"session":"2026-06-17","med_spread_cents":52,"med_spread_bps":4.97,"quote_updates":1195996,"invalid_dropped":252},{"session":"2026-06-18","med_spread_cents":41,"med_spread_bps":3.65,"quote_updates":1327917,"invalid_dropped":617},{"session":"2026-06-22","med_spread_cents":44,"med_spread_bps":3.7,"quote_updates":1580144,"invalid_dropped":1139},{"session":"2026-06-23","med_spread_cents":45,"med_spread_bps":4.2,"quote_updates":940595,"invalid_dropped":554},{"session":"2026-06-24","med_spread_cents":52,"med_spread_bps":5,"quote_updates":1051175,"invalid_dropped":537},{"session":"2026-06-25","med_spread_cents":57.5,"med_spread_bps":4.78,"quote_updates":815532,"invalid_dropped":1003},{"session":"2026-06-26","med_spread_cents":58,"med_spread_bps":5,"quote_updates":1030596,"invalid_dropped":412},{"session":"2026-06-29","med_spread_cents":50,"med_spread_bps":4.62,"quote_updates":748086,"invalid_dropped":414},{"session":"2026-06-30","med_spread_cents":48,"med_spread_bps":4.19,"quote_updates":441718,"invalid_dropped":316}],"shape":"series","sql":"SELECT session,\n    round(quantileDeterministicIf(0.5)(toFloat64(ask_price) - toFloat64(bid_price), toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price >= bid_price) * 100, 1) AS med_spread_cents,\n    round(quantileDeterministicIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price >= bid_price), 2) AS med_spread_bps,\n    count() AS quote_updates,\n    countIf(NOT (bid_price > 0 AND ask_price > 0 AND ask_price >= bid_price)) AS invalid_dropped\nFROM global_markets.cache_stocks_quotes\nWHERE ticker = 'MU'\n  AND sip_timestamp >= toDateTime64('2026-06-01 13:30:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)\n  AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199\nGROUP BY toDate(toTimeZone(sip_timestamp, 'America/New_York')) AS session\nORDER BY session","computed_at":"2026-07-13T06:26:50.561764+00:00","elapsed":0.003239929}