SPY on monthly settlement Fridays: the opening gap, and where the session went afterwards
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 2026-08-03, from Nikkei 225 Options and SQ Settlement.
| date | friday_label | open_gap_pct | open_to_close_pct |
|---|---|---|---|
| 2025-01-17 | Jan 17, 2025 | 0.89 | 0.1 |
| 2025-02-21 | Feb 21, 2025 | -0.04 | -1.67 |
| 2025-03-21 | Mar 21, 2025 | -1.13 | 0.88 |
| 2025-05-16 | May 16, 2025 | 0.14 | 0.51 |
| 2025-06-20 | Jun 20, 2025 | 0.15 | -0.69 |
| 2025-07-18 | Jul 18, 2025 | 0.21 | -0.27 |
| 2025-08-15 | Aug 15, 2025 | 0.16 | -0.39 |
| 2025-09-19 | Sep 19, 2025 | 0.01 | 0.2 |
| 2025-10-17 | Oct 17, 2025 | -0.17 | 0.73 |
| 2025-11-21 | Nov 21, 2025 | 0.39 | 0.61 |
| 2025-12-19 | Dec 19, 2025 | 0.02 | 0.59 |
| 2026-01-16 | Jan 16, 2026 | 0.21 | -0.3 |
| 2026-02-20 | Feb 20, 2026 | -0.32 | 1.03 |
| 2026-03-20 | Mar 20, 2026 | -0.49 | -1.21 |
| 2026-04-17 | Apr 17, 2026 | 0.65 | 0.55 |
| 2026-05-15 | May 15, 2026 | -0.85 | -0.36 |
- Rows × columns
- 16 × 4
- Period covered
- to
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
date |
date | 2025-01-17 to 2026-05-15 | |
friday_label |
text | 16 distinct values (Apr 17, 2026, Aug 15, 2025, Dec 19, 2025…) | |
open_gap_pct |
number | -1.13 to 0.89 | percent |
open_to_close_pct |
number | -1.67 to 1.03 | percent |
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.
WITH sessions AS (
SELECT toDate(toTimeZone(window_start, 'America/New_York')) AS session_date,
argMin(open, window_start) AS session_open,
argMax(close, window_start) AS session_close
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SPY'
AND toDate(toTimeZone(window_start, 'America/New_York')) >= toDate('2024-12-01')
AND toDate(toTimeZone(window_start, 'America/New_York')) <= toDate('2026-06-30')
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
GROUP BY session_date
),
paired AS (
SELECT session_date,
toFloat64(session_open) AS open_px,
toFloat64(session_close) AS close_px,
any(toFloat64(session_close)) OVER (ORDER BY session_date ASC
ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING) AS prior_close
FROM sessions
)
SELECT formatDateTime(session_date, '%Y-%m-%d') AS date,
formatDateTime(session_date, '%b %e, %Y') AS friday_label,
round(100 * (open_px - prior_close) / prior_close, 2) AS open_gap_pct,
round(100 * (close_px - open_px) / open_px, 2) AS open_to_close_pct
FROM paired
WHERE prior_close > 0
AND session_date >= toDate('2025-01-01')
AND toDayOfWeek(session_date) = 5
AND toDayOfMonth(session_date) BETWEEN 15 AND 21
ORDER BY session_date
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