{"slug":"mutual-fund-forward-pricing-rule","qid":"extreme_gaps","label":"extreme_gaps","post_title":"mutual-fund-forward-pricing-rule","post_url":"/blog/mutual-fund-forward-pricing-rule#q-extreme_gaps","columns":["session_label","shares_at_screen_nav","shares_at_struck_nav","move_pct"],"rows":[{"session_label":"Apr 9, 2025","shares_at_screen_nav":20.14,"shares_at_struck_nav":18.23,"move_pct":10.5},{"session_label":"Apr 4, 2025","shares_at_screen_nav":18.63,"shares_at_struck_nav":19.79,"move_pct":5.85},{"session_label":"Apr 3, 2025","shares_at_screen_nav":17.71,"shares_at_struck_nav":18.63,"move_pct":4.93},{"session_label":"Apr 10, 2025","shares_at_screen_nav":18.23,"shares_at_struck_nav":19.06,"move_pct":4.38},{"session_label":"May 12, 2025","shares_at_screen_nav":17.72,"shares_at_struck_nav":17.15,"move_pct":3.3},{"session_label":"Dec 18, 2024","shares_at_screen_nav":16.55,"shares_at_struck_nav":17.06,"move_pct":2.98},{"session_label":"Aug 5, 2024","shares_at_screen_nav":18.77,"shares_at_struck_nav":19.33,"move_pct":2.91},{"session_label":"Mar 31, 2026","shares_at_screen_nav":15.82,"shares_at_struck_nav":15.38,"move_pct":2.91},{"session_label":"Oct 10, 2025","shares_at_screen_nav":14.9,"shares_at_struck_nav":15.31,"move_pct":2.7},{"session_label":"Mar 10, 2025","shares_at_screen_nav":17.36,"shares_at_struck_nav":17.84,"move_pct":2.66}],"shape":"ranking","sql":"WITH d AS\n(\n    SELECT\n        date,\n        toFloat64(close)                                    AS px,\n        lagInFrame(toFloat64(close)) OVER (ORDER BY date\n            ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING)       AS prev_px\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker = 'SPY'\n      AND date >= '2023-01-01'\n      AND date <  '2026-09-01'\n)\nSELECT\n    formatDateTime(date, '%b %e, %Y')                       AS session_label,\n    round(10000.0 / prev_px, 2)                             AS shares_at_screen_nav,\n    round(10000.0 / px, 2)                                  AS shares_at_struck_nav,\n    round(abs(px / prev_px - 1) * 100, 2)                   AS move_pct\nFROM d\nWHERE prev_px > 0\nORDER BY abs(px / prev_px - 1) DESC\nLIMIT 10","computed_at":"2026-09-24T14:48:33.502664+00:00","elapsed":0.002620268}