Median bid-ask spread on SPY same-day contracts quoted $1-$10, by ET hour: July 10, 2026

Name: Median bid-ask spread on SPY same-day contracts quoted $1-$10, by ET hour: July 10, 2026
Creator: Strasmore
Published: 2026-08-13
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 2026-08-13, from When Do 0DTE Options Trade? By the Hour.

as of 2026-08-13 ranking 7×4read in context →

Median bid-ask spread on SPY same-day contracts quoted $1-$10, by ET hour: July 10, 2026 — 7 rows by 4 columns, computed 2026-08-13 from US exchange, SIP and OPRA data.
et_hour	quote_updates_m	median_spread_usd	median_spread_pct_of_mid
09:00	0.8	0.03	0.8
10:00	1.4	0.03	0.89
11:00	0.9	0.03	1
12:00	0.3	0.03	1.57
13:00	0.1	0.1	2.17
14:00	0.1	0.11	2.38
15:00	0.1	0.11	2.67

Rows × columns: 7 × 4
Computed: 2026-08-13
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 bid-ask spread on SPY same-day contracts quoted $1-$10, by ET hour: July 10, 2026, derived from the stored result.
Column	Type	Range	Notes
`et_hour`	text	7 distinct values (09:00, 10:00, 11:00…)
`quote_updates_m`	number	0.1 to 1.4
`median_spread_usd`	number	0.03 to 0.11	US dollars
`median_spread_pct_of_mid`	number	0.8 to 2.67	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 2026-08-13, and the query below is what returned them.

the exact SQL behind every number

SELECT formatDateTime(toStartOfHour(toTimeZone(sip_timestamp, 'America/New_York')), '%H:%i') AS et_hour,
       round(count() / 1e6, 1) AS quote_updates_m,
       round(quantileDeterministic(0.5)(toFloat64(ask_price - bid_price), toUInt64(sequence_number)), 3) AS median_spread_usd,
       round(quantileDeterministic(0.5)(toFloat64(ask_price - bid_price) / toFloat64(bid_price + ask_price) * 200,
                                        toUInt64(sequence_number)), 2) AS median_spread_pct_of_mid
FROM global_markets.cache_options_quotes
WHERE ticker LIKE 'O:SPY260710%'
  AND sip_timestamp >= toDateTime64('2026-07-10 13:30:00', 9)
  AND sip_timestamp < toDateTime64('2026-07-10 20:00:00', 9)
  AND bid_price > 0
  AND toFloat64(bid_price + ask_price) / 2 BETWEEN 1 AND 10
GROUP BY et_hour
ORDER BY et_hour

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