debut_two_legs

Name: debut_two_legs
Creator: Strasmore
Published: 2026-10-02
License: https://www.strasmore.com/terms/

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 2026-10-02, from what-is-gmp-in-an-ipo.

as of 2026-10-02 table 4×5read in context →

debut_two_legs — 4 rows by 5 columns, computed 2026-10-02 from US exchange, SIP and OPRA data.
band	listing_count	median_pop_pct	median_day1_change_pct	closed_above_open_pct
opened below offer	234	-5.3	0.1	51.3
opened 0-10% above offer	378	0.7	0	38.1
opened 10-30% above offer	194	17.6	-0.8	45.4
opened more than 30% above offer	413	461.2	-4.2	39.2

Rows × columns: 4 × 5
Computed: 2026-10-02
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 debut_two_legs, derived from the stored result.
Column	Type	Range	Notes
`band`	text	4 distinct values
`listing_count`	number	194 to 413	count
`median_pop_pct`	number	-5.3 to 461.2	percent
`median_day1_change_pct`	number	-4.2 to 0.1	percent
`closed_above_open_pct`	number	38.1 to 51.3	percent

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 2026-10-02, and the query below is what returned them.

Run it yourself

This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.

WITH issues AS
(
    SELECT
        ticker,
        min(listing_date)                 AS listing_dt,
        max(toFloat64(final_issue_price)) AS offer_price
    FROM global_markets.stocks_ipos
    WHERE listing_date >= '2021-01-01'
      AND listing_date <  '2026-07-01'
      AND final_issue_price > 0
      AND issuer_name NOT ILIKE '%acquisition%'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker
),
debut AS
(
    SELECT
        i.ticker                                                               AS ticker,
        round(100 * (argMin(toFloat64(d.open), d.date) / i.offer_price - 1), 2) AS pop_pct,
        round(100 * (argMin(toFloat64(d.close), d.date)
                     / argMin(toFloat64(d.open), d.date) - 1), 2)              AS day1_change_pct
    FROM issues AS i
    INNER JOIN global_markets.stocks_daily_aggs AS d ON d.ticker = i.ticker
    WHERE d.date >= i.listing_dt
      AND d.date <  i.listing_dt + 7
    GROUP BY i.ticker, i.offer_price
)
SELECT
    band,
    count()                                                                             AS listing_count,
    round(quantileDeterministic(0.5)(pop_pct, toUInt32(cityHash64(ticker))), 1)         AS median_pop_pct,
    round(quantileDeterministic(0.5)(day1_change_pct, toUInt32(cityHash64(ticker))), 1) AS median_day1_change_pct,
    round(100 * countIf(day1_change_pct > 0) / count(), 1)                              AS closed_above_open_pct
FROM
(
    SELECT
        ticker,
        pop_pct,
        day1_change_pct,
        multiIf(pop_pct < 0, 1, pop_pct < 10, 2, pop_pct < 30, 3, 4) AS band_rank,
        multiIf(pop_pct < 0,  'opened below offer',
                pop_pct < 10, 'opened 0-10% above offer',
                pop_pct < 30, 'opened 10-30% above offer',
                              'opened more than 30% above offer') AS band
    FROM debut
    WHERE isFinite(pop_pct) AND isFinite(day1_change_pct)
)
GROUP BY band, band_rank
ORDER BY band_rank

SQL to run

WITH issues AS
(
    SELECT
        ticker,
        min(listing_date)                 AS listing_dt,
        max(toFloat64(final_issue_price)) AS offer_price
    FROM global_markets.stocks_ipos
    WHERE listing_date >= '2021-01-01'
      AND listing_date <  '2026-07-01'
      AND final_issue_price > 0
      AND issuer_name NOT ILIKE '%acquisition%'
      AND ticker NOT IN ('SPCX')
    GROUP BY ticker
),
debut AS
(
    SELECT
        i.ticker                                                               AS ticker,
        round(100 * (argMin(toFloat64(d.open), d.date) / i.offer_price - 1), 2) AS pop_pct,
        round(100 * (argMin(toFloat64(d.close), d.date)
                     / argMin(toFloat64(d.open), d.date) - 1), 2)              AS day1_change_pct
    FROM issues AS i
    INNER JOIN global_markets.stocks_daily_aggs AS d ON d.ticker = i.ticker
    WHERE d.date >= i.listing_dt
      AND d.date <  i.listing_dt + 7
    GROUP BY i.ticker, i.offer_price
)
SELECT
    band,
    count()                                                                             AS listing_count,
    round(quantileDeterministic(0.5)(pop_pct, toUInt32(cityHash64(ticker))), 1)         AS median_pop_pct,
    round(quantileDeterministic(0.5)(day1_change_pct, toUInt32(cityHash64(ticker))), 1) AS median_day1_change_pct,
    round(100 * countIf(day1_change_pct > 0) / count(), 1)                              AS closed_above_open_pct
FROM
(
    SELECT
        ticker,
        pop_pct,
        day1_change_pct,
        multiIf(pop_pct < 0, 1, pop_pct < 10, 2, pop_pct < 30, 3, 4) AS band_rank,
        multiIf(pop_pct < 0,  'opened below offer',
                pop_pct < 10, 'opened 0-10% above offer',
                pop_pct < 30, 'opened 10-30% above offer',
                              'opened more than 30% above offer') AS band
    FROM debut
    WHERE isFinite(pop_pct) AND isFinite(day1_change_pct)
)
GROUP BY band, band_rank
ORDER BY band_rank

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