How US share volume concentrates across symbols, May 2026
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 2026-08-11, from Quote-Driven vs Order-Driven Markets.
| adv_bucket | listing_count | share_of_listings_pct | share_of_volume_pct |
|---|---|---|---|
| under 10k | 2909 | 22.8 | 0.1 |
| 10k to 100k | 3688 | 28.9 | 0.8 |
| 100k to 1M | 3488 | 27.3 | 7.7 |
| 1M to 10M | 2329 | 18.3 | 40.8 |
| over 10M | 346 | 2.7 | 50.6 |
- Rows × columns
- 5 × 4
- 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 |
|---|---|---|---|
adv_bucket |
text | 5 distinct values (100k to 1M, 10k to 100k, 1M to 10M…) | |
listing_count |
number | 346 to 3,688 | count |
share_of_listings_pct |
number | 2.7 to 28.9 | percent |
share_of_volume_pct |
number | 0.1 to 50.6 | 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
daily AS
(
SELECT
ticker,
date,
max(toFloat64(volume)) AS shares
FROM global_markets.stocks_daily_aggs
WHERE date >= '2026-05-01'
AND date < '2026-06-01'
AND ticker NOT IN ('SPCX')
GROUP BY ticker, date
),
per_symbol AS
(
SELECT
ticker,
avg(shares) AS adv,
sum(shares) AS month_shares
FROM daily
GROUP BY ticker
HAVING adv > 0
),
buckets AS
(
SELECT
multiIf(adv < 10000, 'under 10k',
adv < 100000, '10k to 100k',
adv < 1000000, '100k to 1M',
adv < 10000000, '1M to 10M',
'over 10M') AS adv_bucket,
min(adv) AS bucket_floor,
count() AS listings,
sum(month_shares) AS bucket_shares
FROM per_symbol
GROUP BY adv_bucket
),
totals AS
(
SELECT
count() AS all_listings,
sum(month_shares) AS all_shares
FROM per_symbol
)
SELECT
b.adv_bucket AS adv_bucket,
b.listings AS listing_count,
round(100 * b.listings / t.all_listings, 1) AS share_of_listings_pct,
round(100 * b.bucket_shares / t.all_shares, 1) AS share_of_volume_pct
FROM buckets AS b
CROSS JOIN totals AS t
ORDER BY b.bucket_floor
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