STRASMORE/EXPLORE 2,170 QUERIES

Typical quoted spread: six liquid names vs. two thin small caps, with the 100-share cost

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 2026-08-22, from What Is a Bid-Ask Spread? Real Costs.

as of ranking 8×4read in context →
Typical quoted spread: six liquid names vs. two thin small caps, with the 100-share cost — 8 rows by 4 columns, computed from US exchange, SIP and OPRA data.
tickertypical_spread_centstypical_spread_bpsspread_cost_100_shares
SPY20.32.00
AAPL30.93.00
NVDA20.92.00
MSFT81.78.00
KO11.11.00
TSLA72.17.00
NATH6566.365.00
SENEA17088.4170.00
Rows × columns
8 × 4
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 Typical quoted spread: six liquid names vs. two thin small caps, with the 100-share cost, derived from the stored result.
ColumnTypeRangeNotes
ticker text 8 distinct values (AAPL, KO, MSFT…)
typical_spread_cents number 1 to 170
typical_spread_bps number 0.3 to 88.4
spread_cost_100_shares text 7 distinct values (1.00, 170.00, 2.00…)

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(median_spread_usd * 100, 1) AS typical_spread_cents,
       round(median_spread_bps, 1) AS typical_spread_bps,
       toDecimalString(median_spread_usd * 100, 2) AS spread_cost_100_shares
FROM (
    SELECT ticker,
           quantileDeterministic(0.5)(toFloat64(ask_price - bid_price), toUInt64(sip_timestamp)) AS median_spread_usd,
           quantileDeterministic(0.5)(toFloat64(ask_price - bid_price) / (toFloat64(ask_price + bid_price) / 2), toUInt64(sip_timestamp)) * 10000 AS median_spread_bps
    FROM global_markets.cache_stocks_quotes
    WHERE ticker IN ('SPY', 'AAPL', 'NVDA', 'MSFT', 'KO', 'TSLA', 'NATH', 'SENEA')
      AND sip_timestamp >= now() - INTERVAL 7 DAY
      AND bid_price > 0
      AND ask_price > bid_price
    GROUP BY ticker
)
ORDER BY indexOf(['SPY', 'AAPL', 'NVDA', 'MSFT', 'KO', 'TSLA', 'NATH', 'SENEA'], ticker)

Run your own version of this

The same 22 years of US equities and 12 years of options data are queryable in SQL or plain English. A free account runs 100 queries a day and takes no card.

More from this analysisWhat Is a Bid-Ask Spread? Real Costs
AAPL median quoted spread by 30-minute bucket (ET, extended hours included) series 32×2 → The same curve at four checkpoints: premarket, the open, midday, the close series 4×2 → AAPL: the last recorded NBBO quote in our data window scalar 1×7 → Median quoted spread by phase of the trading day, in basis points (ET clock) ranking 5×4 → Share of quote updates at the one-cent minimum spread, by half hour (regular hours, ET) series 13×4 → Median spread each half hour, as a multiple of each name's tightest bucket (regular hours, ET) series 13×4 → See all 2,170 queries →