STRASMORE/EXPLORE 3,293 QUERIES
Full options quote history: clean NBBO bid/ask snapshots for any US option contract at the interval you choose, by SQL API, $79 a month. See the options quotes plan

Lowest and highest SPY close in the twelve months after each first hike

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 2026-09-20, from Stock Returns After the First Fed Rate Hike.

as of table 3×5read in context →
Lowest and highest SPY close in the twelve months after each first hike — 3 rows by 5 columns, computed from US exchange, SIP and OPRA data.
cyclelow_vs_hike_pctlow_onhigh_vs_hike_pcthigh_on
Jun 30, 2004-6.7Aug 6, 20047.2Mar 7, 2005
Dec 16, 2015-12.1Feb 11, 20169.5Dec 13, 2016
Mar 16, 2022-18.1Oct 12, 20226Mar 29, 2022
Rows × columns
3 × 5
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for Lowest and highest SPY close in the twelve months after each first hike, derived from the stored result.
ColumnTypeRangeNotes
cycle text 3 distinct values (Dec 16, 2015, Jun 30, 2004, Mar 16, 2022)
low_vs_hike_pct number -18.1 to -6.7 percent
low_on text 3 distinct values (Aug 6, 2004, Feb 11, 2016, Oct 12, 2022)
high_vs_hike_pct number 6 to 9.5 percent
high_on text 3 distinct values (Dec 13, 2016, Mar 29, 2022, Mar 7, 2005)

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 px AS
(
    SELECT
        date,
        toFloat64(close) AS px_close,
        multiIf(date <= '2005-06-30', toDate('2004-06-30'),
                date <= '2016-12-16', toDate('2015-12-16'),
                                      toDate('2022-03-16')) AS hike_date
    FROM global_markets.stocks_daily_aggs
    WHERE ticker = 'SPY'
      AND ((date >= '2004-06-30' AND date <= '2005-06-30')
        OR (date >= '2015-12-16' AND date <= '2016-12-16')
        OR (date >= '2022-03-16' AND date <= '2023-03-16'))
)
SELECT
    formatDateTime(hike_date, '%b %e, %Y')                                AS cycle,
    round(100 * (min(px_close) / argMin(px_close, date) - 1), 1)          AS low_vs_hike_pct,
    formatDateTime(argMin(date, px_close), '%b %e, %Y')                   AS low_on,
    round(100 * (max(px_close) / argMin(px_close, date) - 1), 1)          AS high_vs_hike_pct,
    formatDateTime(argMax(date, px_close), '%b %e, %Y')                   AS high_on
FROM px
GROUP BY hike_date
ORDER BY hike_date
⌘/Ctrl + Enter

Work with this data in your AI assistant

Opens ready to query, with this page's data. Free, no account.

More from this analysisStock Returns After the First Fed Rate Hike
SPY versus its hike-day close, week by week, three cycles aligned table 53×4 → SPY forward returns after the first hike of each cycle table 3×5 → The 2s10s Treasury spread on hike day and twelve months later ranking 3×4 → Record closes per year, SPY (price basis, first four years of the file excluded) table 20×7 → Deepest closing declines from a record close, SPY table 7×5 → Forward price change after record closes vs all other sessions, SPY table 3×7 → See all 3,293 queries →