{"slug":"unusual-options-activity","qid":"oa_dte","label":"What the session's contracts were made of: options volume by days to expiry","post_title":"Unusual Options Activity: Last Session","post_url":"/blog/unusual-options-activity#q-oa_dte","columns":["dte_bucket","contracts_m","pct_of_volume","session_id"],"rows":[{"dte_bucket":"same day","contracts_m":20.99,"pct_of_volume":31.2,"session_id":20260819},{"dte_bucket":"1 to 7 days","contracts_m":18.9,"pct_of_volume":28.1,"session_id":20260819},{"dte_bucket":"8 to 30 days","contracts_m":15,"pct_of_volume":22.3,"session_id":20260819},{"dte_bucket":"31 to 90 days","contracts_m":4,"pct_of_volume":6,"session_id":20260819},{"dte_bucket":"91 to 365 days","contracts_m":6.95,"pct_of_volume":10.3,"session_id":20260819},{"dte_bucket":"over a year","contracts_m":1.36,"pct_of_volume":2,"session_id":20260819}],"shape":"ranking","sql":"WITH tape AS (\n    SELECT toDate(toTimeZone(window_start, 'America/New_York')) AS d,\n           sum(toFloat64(volume)) AS vol\n    FROM global_markets.options_minute_aggs\n    WHERE window_start >= toDateTime(today() - 45, 'America/New_York')\n    GROUP BY d\n),\nranked AS (\n    SELECT d, vol, row_number() OVER (ORDER BY d DESC) AS raw_rn\n    FROM tape\n),\ncal AS (\n    SELECT d, vol, rn, sum(if(rn BETWEEN 2 AND 21, 1, 0)) OVER () AS baseline_sessions\n    FROM (\n        SELECT d, vol, row_number() OVER (ORDER BY d DESC) AS rn\n        FROM ranked\n        WHERE vol >= 0.75 * (SELECT quantileExact(0.5)(vol) FROM ranked WHERE raw_rn > 1)\n    )\n),\nbars AS (\n    SELECT toDate(toTimeZone(window_start, 'America/New_York')) AS d,\n           toFloat64(volume) AS v,\n           toDate(concat('20', substring(ticker, length(ticker) - 14, 2), '-',\n                         substring(ticker, length(ticker) - 12, 2), '-',\n                         substring(ticker, length(ticker) - 10, 2))) AS expiry\n    FROM global_markets.options_minute_aggs\n    WHERE window_start >= toDateTime(today() - 12, 'America/New_York')\n      AND toDate(toTimeZone(window_start, 'America/New_York')) IN (SELECT d FROM cal WHERE rn = 1)\n),\nscored AS (\n    SELECT multiIf(expiry - d <= 0, 1, expiry - d <= 7, 2, expiry - d <= 30, 3,\n                   expiry - d <= 90, 4, expiry - d <= 365, 5, 6) AS bk,\n           v, d\n    FROM bars\n)\nSELECT arrayElement(['same day', '1 to 7 days', '8 to 30 days', '31 to 90 days', '91 to 365 days', 'over a year'], bk) AS dte_bucket,\n       round(sum(v) / 1e6, 2) AS contracts_m,\n       round(100.0 * sum(v) / sum(sum(v)) OVER (), 1) AS pct_of_volume,\n       toYYYYMMDD(max(d)) AS session_id\nFROM scored\nGROUP BY bk\nORDER BY bk ASC","computed_at":"2026-08-25T13:13:45.926743+00:00","elapsed":16.730209674}