{"slug":"what-is-a-bid-ask-spread","qid":"aapl_latest_quote","label":"AAPL: the last recorded NBBO quote in our data window","post_title":"What Is a Bid-Ask Spread? Real Costs","post_url":"/blog/what-is-a-bid-ask-spread#q-aapl_latest_quote","columns":["stock","bid_price","ask_price","spread","midpoint_price","spread_pct","quote_time_et"],"rows":[{"stock":"AAPL","bid_price":"316.88","ask_price":"317.25","spread":"0.37","midpoint_price":"317.06","spread_pct":0.117,"quote_time_et":"2026-08-19 19:59"}],"shape":"scalar","sql":"SELECT stock,\n       toDecimalString(bid, 2) AS bid_price,\n       toDecimalString(ask, 2) AS ask_price,\n       toDecimalString(ask - bid, 2) AS spread,\n       toDecimalString((ask + bid) / 2, 2) AS midpoint_price,\n       round((ask - bid) / ((ask + bid) / 2) * 100, 3) AS spread_pct,\n       quote_time_et\nFROM (\n    SELECT ticker AS stock,\n           argMax(toFloat64(bid_price), sip_timestamp) AS bid,\n           argMax(toFloat64(ask_price), sip_timestamp) AS ask,\n           formatDateTime(toTimeZone(max(sip_timestamp), 'America/New_York'), '%Y-%m-%d %H:%i') AS quote_time_et\n    FROM global_markets.cache_stocks_quotes\n    WHERE ticker = 'AAPL'\n      AND sip_timestamp >= now() - INTERVAL 7 DAY\n      AND bid_price > 0\n      AND ask_price > bid_price\n    GROUP BY ticker\n)","computed_at":"2026-08-22T04:32:54.125944+00:00","elapsed":0.444656183}