{"slug":"primary-peg-and-market-peg-orders","qid":"tick_wide_share","label":"Share of quotes at a one cent spread, 15 September 2026","post_title":"Primary Peg vs Market Peg Orders Explained","post_url":"/blog/primary-peg-and-market-peg-orders#q-tick_wide_share","columns":["symbol","one_cent_pct","two_to_five_cent_pct","wider_than_five_cent_pct"],"rows":[{"symbol":"KO","one_cent_pct":79.8,"two_to_five_cent_pct":19.6,"wider_than_five_cent_pct":0.5},{"symbol":"NVDA","one_cent_pct":45.9,"two_to_five_cent_pct":51.9,"wider_than_five_cent_pct":2.2},{"symbol":"SPY","one_cent_pct":28.5,"two_to_five_cent_pct":63.2,"wider_than_five_cent_pct":8.2},{"symbol":"AAPL","one_cent_pct":19.7,"two_to_five_cent_pct":67.1,"wider_than_five_cent_pct":13.3},{"symbol":"MSFT","one_cent_pct":2.1,"two_to_five_cent_pct":20.4,"wider_than_five_cent_pct":77.6}],"shape":"ranking","sql":"SELECT\n    ticker AS symbol,\n    round(100 * countIf((toFloat64(ask_price) - toFloat64(bid_price)) <= 0.011) / count(), 1) AS one_cent_pct,\n    round(100 * countIf((toFloat64(ask_price) - toFloat64(bid_price)) > 0.011\n                        AND (toFloat64(ask_price) - toFloat64(bid_price)) <= 0.051) / count(), 1) AS two_to_five_cent_pct,\n    round(100 * countIf((toFloat64(ask_price) - toFloat64(bid_price)) > 0.051) / count(), 1) AS wider_than_five_cent_pct\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 <  '2026-09-16 00:00:00'\n  AND bid_price > 0\n  AND ask_price > bid_price\nGROUP BY ticker\nORDER BY one_cent_pct DESC","computed_at":"2026-10-08T15:29:23.514906+00:00","elapsed":0.003959343}