{"slug":"who-are-the-biggest-market-makers","qid":"off_exchange_share","label":"Share of Apple volume printed off exchange, by month","post_title":"Who Are the Biggest Market Makers?","post_url":"/blog/who-are-the-biggest-market-makers#q-off_exchange_share","columns":["month","off_exchange_pct"],"rows":[{"month":"2025-08","off_exchange_pct":36.2},{"month":"2025-09","off_exchange_pct":32.9},{"month":"2025-10","off_exchange_pct":27.9},{"month":"2025-11","off_exchange_pct":27.3},{"month":"2025-12","off_exchange_pct":27.4},{"month":"2026-01","off_exchange_pct":24.2},{"month":"2026-02","off_exchange_pct":28.3},{"month":"2026-03","off_exchange_pct":19.1},{"month":"2026-04","off_exchange_pct":30.4},{"month":"2026-05","off_exchange_pct":30.2},{"month":"2026-06","off_exchange_pct":23.7},{"month":"2026-07","off_exchange_pct":26.9}],"shape":"series","sql":"WITH\n    off_exchange AS\n    (\n        SELECT\n            toStartOfMonth(d) AS m,\n            sum(daily_shares) AS off_exchange_shares\n        FROM\n        (\n            SELECT\n                date              AS d,\n                max(total_volume) AS daily_shares\n            FROM global_markets.stocks_short_volume\n            WHERE ticker = 'AAPL'\n              AND date >= '2025-08-01'\n              AND date <  '2026-08-01'\n            GROUP BY date\n        )\n        GROUP BY m\n    ),\n    consolidated AS\n    (\n        SELECT\n            toStartOfMonth(date) AS m,\n            sum(volume)          AS total_shares\n        FROM global_markets.stocks_daily_aggs\n        WHERE ticker = 'AAPL'\n          AND date >= '2025-08-01'\n          AND date <  '2026-08-01'\n        GROUP BY m\n    )\nSELECT\n    formatDateTime(o.m, '%Y-%m')                                                 AS month,\n    round(100 * toFloat64(o.off_exchange_shares) / toFloat64(c.total_shares), 1) AS off_exchange_pct\nFROM off_exchange AS o\nINNER JOIN consolidated AS c ON c.m = o.m\nORDER BY month","computed_at":"2026-08-11T15:51:11.451275+00:00","elapsed":0.002782782}