{"slug":"when-do-0dte-options-trade","qid":"spreads","label":"Median bid-ask spread on SPY same-day contracts quoted $1-$10, by ET hour: July 10, 2026","post_title":"When Do 0DTE Options Trade? By the Hour","post_url":"/blog/when-do-0dte-options-trade#q-spreads","columns":["et_hour","quote_updates_m","median_spread_usd","median_spread_pct_of_mid"],"rows":[{"et_hour":"09:00","quote_updates_m":0.8,"median_spread_usd":0.03,"median_spread_pct_of_mid":0.8},{"et_hour":"10:00","quote_updates_m":1.4,"median_spread_usd":0.03,"median_spread_pct_of_mid":0.89},{"et_hour":"11:00","quote_updates_m":0.9,"median_spread_usd":0.03,"median_spread_pct_of_mid":1},{"et_hour":"12:00","quote_updates_m":0.3,"median_spread_usd":0.03,"median_spread_pct_of_mid":1.57},{"et_hour":"13:00","quote_updates_m":0.1,"median_spread_usd":0.1,"median_spread_pct_of_mid":2.17},{"et_hour":"14:00","quote_updates_m":0.1,"median_spread_usd":0.11,"median_spread_pct_of_mid":2.38},{"et_hour":"15:00","quote_updates_m":0.1,"median_spread_usd":0.11,"median_spread_pct_of_mid":2.67}],"shape":"ranking","sql":"SELECT formatDateTime(toStartOfHour(toTimeZone(sip_timestamp, 'America/New_York')), '%H:%i') AS et_hour,\n       round(count() / 1e6, 1) AS quote_updates_m,\n       round(quantileDeterministic(0.5)(toFloat64(ask_price - bid_price), toUInt64(sequence_number)), 3) AS median_spread_usd,\n       round(quantileDeterministic(0.5)(toFloat64(ask_price - bid_price) / toFloat64(bid_price + ask_price) * 200,\n                                        toUInt64(sequence_number)), 2) AS median_spread_pct_of_mid\nFROM global_markets.cache_options_quotes\nWHERE ticker LIKE 'O:SPY260710%'\n  AND sip_timestamp >= toDateTime64('2026-07-10 13:30:00', 9)\n  AND sip_timestamp < toDateTime64('2026-07-10 20:00:00', 9)\n  AND bid_price > 0\n  AND toFloat64(bid_price + ask_price) / 2 BETWEEN 1 AND 10\nGROUP BY et_hour\nORDER BY et_hour","computed_at":"2026-08-13T14:43:39.193672+00:00","elapsed":0.002459747}