{"slug":"overnight-trading-order-types","qid":"edge_hour_names","label":"Average quoted spread, 4 a.m. hour vs noon hour, September 15, 2026","post_title":"Overnight Trading Order Types: Limit Only","post_url":"/blog/overnight-trading-order-types#q-edge_hour_names","columns":["ticker","early_spread_cents","midday_spread_cents"],"rows":[{"ticker":"MSFT","early_spread_cents":53.4,"midday_spread_cents":10},{"ticker":"AAPL","early_spread_cents":24.5,"midday_spread_cents":2.7},{"ticker":"KO","early_spread_cents":23.6,"midday_spread_cents":1.1},{"ticker":"NVDA","early_spread_cents":9.4,"midday_spread_cents":1.4},{"ticker":"SPY","early_spread_cents":6.3,"midday_spread_cents":1.7}],"shape":"ranking","sql":"SELECT\n    ticker,\n    round(avgIf(toFloat64(ask_price) - toFloat64(bid_price),\n                toHour(toTimeZone(sip_timestamp, 'America/New_York')) = 4) * 100, 1)  AS early_spread_cents,\n    round(avgIf(toFloat64(ask_price) - toFloat64(bid_price),\n                toHour(toTimeZone(sip_timestamp, 'America/New_York')) = 12) * 100, 1) AS midday_spread_cents\nFROM global_markets.cache_stocks_quotes\nWHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'SPY', 'KO')\n  AND sip_timestamp >= '2026-09-15 08:00:00'\n  AND sip_timestamp <  '2026-09-15 17:00:00'\n  AND toHour(toTimeZone(sip_timestamp, 'America/New_York')) IN (4, 12)\n  AND ask_price > bid_price\n  AND bid_price > 0\nGROUP BY ticker\nHAVING countIf(toHour(toTimeZone(sip_timestamp, 'America/New_York')) = 4) > 0\n   AND countIf(toHour(toTimeZone(sip_timestamp, 'America/New_York')) = 12) > 0\nORDER BY early_spread_cents DESC","computed_at":"2026-09-27T15:02:51.682087+00:00","elapsed":0.003734791}