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Median quoted spread and the cost of a $25,000 round trip: midday hour, July 15, 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 2026-08-03, from Can an AI Trading Track Record Be Verified?.

as of ranking 6×3read in context →
Median quoted spread and the cost of a $25,000 round trip: midday hour, July 15, 2026 — 6 rows by 3 columns, computed from US exchange, SIP and OPRA data.
tickermedian_spread_bpsround_trip_cost_per_25k_usd
MSTR10.0825.2
MSFT2.015.03
NVDA1.433.59
AAPL1.243.09
KO1.213.01
SPY0.270.66
Rows × columns
6 × 3
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 Median quoted spread and the cost of a $25,000 round trip: midday hour, July 15, 2026, derived from the stored result.
ColumnTypeRangeNotes
ticker text 6 distinct values (AAPL, KO, MSFT…)
median_spread_bps number 0.27 to 10.08
round_trip_cost_per_25k_usd number 0.66 to 25.2 US dollars

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.

the exact SQL behind every number 
SELECT ticker,
       round(quantileDeterministic(0.5)(20000 * (toFloat64(ask_price) - toFloat64(bid_price))
                                        / (toFloat64(ask_price) + toFloat64(bid_price)),
                                        cityHash64(sip_timestamp)), 2) AS median_spread_bps,
       round(25000 * quantileDeterministic(0.5)(2 * (toFloat64(ask_price) - toFloat64(bid_price))
                                                / (toFloat64(ask_price) + toFloat64(bid_price)),
                                                cityHash64(sip_timestamp)), 2) AS round_trip_cost_per_25k_usd
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'MSTR')
  AND sip_timestamp >= toDateTime('2026-07-15 15:00:00')
  AND sip_timestamp < toDateTime('2026-07-15 16:00:00')
  AND bid_price > 1
  AND ask_price > bid_price
GROUP BY ticker
ORDER BY median_spread_bps DESC

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