{"slug":"what-is-vwap","qid":"vwap_check","label":"The receipt: VWAP from every individual trade vs. the minute-bar shortcut (AAPL, July 2, 2026)","post_title":"What Is VWAP? Volume-Weighted Average Price","post_url":"/blog/what-is-vwap#q-vwap_check","columns":["trade_level_vwap","minute_bar_vwap","gap_cents","gap_bps","trades_millions"],"rows":[{"trade_level_vwap":305.9162,"minute_bar_vwap":305.9908,"gap_cents":7.5,"gap_bps":2.4,"trades_millions":1.1}],"shape":"scalar","sql":"WITH every_trade AS (\n    SELECT round(sum(price * size) / sum(size), 4) AS trade_vwap,\n           round(count() / 1e6, 1) AS trades_millions\n    FROM global_markets.stocks_trades\n    WHERE ticker = 'AAPL'\n      AND sip_timestamp >= toDateTime('2026-07-02 09:30:00', 'America/New_York')\n      AND sip_timestamp < toDateTime('2026-07-02 16:00:00', 'America/New_York')\n),\nminute_bars AS (\n    SELECT round(sum(close * volume) / sum(volume), 4) AS bar_vwap\n    FROM global_markets.delayed_stocks_minute_aggs\n    WHERE ticker = 'AAPL'\n      AND window_start >= toDateTime('2026-07-02 09:30:00', 'America/New_York')\n      AND window_start < toDateTime('2026-07-02 16:00:00', 'America/New_York')\n)\nSELECT every_trade.trade_vwap AS trade_level_vwap,\n       minute_bars.bar_vwap AS minute_bar_vwap,\n       round(abs(every_trade.trade_vwap - minute_bars.bar_vwap) * 100, 1) AS gap_cents,\n       round(abs(every_trade.trade_vwap - minute_bars.bar_vwap) / every_trade.trade_vwap * 10000, 1) AS gap_bps,\n       every_trade.trades_millions\nFROM every_trade, minute_bars","computed_at":"2026-07-26T06:31:22.567534+00:00","elapsed":0.154599514}