{"slug":"trailing-stop-vs-trailing-stop-limit","qid":"deepest_gaps","label":"The ten deepest gap-down opens in SPY since 2006, and where those sessions traded","post_title":"Trailing Stop vs Trailing Stop-Limit Orders","post_url":"/blog/trailing-stop-vs-trailing-stop-limit#q-deepest_gaps","columns":["label","gap_below_prior_close_pct","intraday_high_below_prior_close_pct","intraday_low_below_prior_close_pct"],"rows":[{"label":"Mar 16, 2020","gap_below_prior_close_pct":10.45,"intraday_high_below_prior_close_pct":4.61,"intraday_low_below_prior_close_pct":11.87},{"label":"Oct 24, 2008","gap_below_prior_close_pct":8.32,"intraday_high_below_prior_close_pct":1.93,"intraday_low_below_prior_close_pct":8.39},{"label":"Mar 9, 2020","gap_below_prior_close_pct":7.45,"intraday_high_below_prior_close_pct":4.46,"intraday_low_below_prior_close_pct":8.07},{"label":"Mar 12, 2020","gap_below_prior_close_pct":6.69,"intraday_high_below_prior_close_pct":2.81,"intraday_low_below_prior_close_pct":9.72},{"label":"Mar 18, 2020","gap_below_prior_close_pct":6.55,"intraday_high_below_prior_close_pct":1.75,"intraday_low_below_prior_close_pct":9.8},{"label":"Aug 24, 2015","gap_below_prior_close_pct":5.23,"intraday_high_below_prior_close_pct":0.18,"intraday_low_below_prior_close_pct":7.8},{"label":"Oct 10, 2008","gap_below_prior_close_pct":4.34,"intraday_high_below_prior_close_pct":-3.57,"intraday_low_below_prior_close_pct":7.85},{"label":"Aug 5, 2024","gap_below_prior_close_pct":3.99,"intraday_high_below_prior_close_pct":1.75,"intraday_low_below_prior_close_pct":4.25},{"label":"Apr 1, 2020","gap_below_prior_close_pct":3.79,"intraday_high_below_prior_close_pct":0.04,"intraday_low_below_prior_close_pct":5.37},{"label":"Jan 22, 2008","gap_below_prior_close_pct":3.67,"intraday_high_below_prior_close_pct":-0.28,"intraday_low_below_prior_close_pct":4.59}],"shape":"ranking","sql":"WITH daily AS\n(\n    SELECT\n        date,\n        toFloat64(any(open))  AS open_px,\n        toFloat64(any(high))  AS high_px,\n        toFloat64(any(low))   AS low_px,\n        toFloat64(any(close)) AS close_px\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker = 'SPY'\n      AND date >= '2006-01-01'\n      AND date <  '2026-10-01'\n    GROUP BY date\n),\nsessions AS\n(\n    SELECT\n        date,\n        open_px,\n        high_px,\n        low_px,\n        lagInFrame(close_px) OVER (ORDER BY date ASC ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING) AS prior_close\n    FROM daily\n)\nSELECT\n    formatDateTime(date, '%b %e, %Y')           AS label,\n    round(100 * (1 - open_px / prior_close), 2) AS gap_below_prior_close_pct,\n    round(100 * (1 - high_px / prior_close), 2) AS intraday_high_below_prior_close_pct,\n    round(100 * (1 - low_px  / prior_close), 2) AS intraday_low_below_prior_close_pct\nFROM sessions\nWHERE prior_close > 0\nORDER BY open_px / prior_close ASC\nLIMIT 10","computed_at":"2026-10-08T15:25:17.337901+00:00","elapsed":0.005289837}