{"slug":"why-overnight-orders-must-be-limit-orders","qid":"minute_range_by_ticker","label":"Median per-minute price range, premarket versus midday (September 2026)","post_title":"Why Overnight Orders Must Be Limit Orders","post_url":"/blog/why-overnight-orders-must-be-limit-orders#q-minute_range_by_ticker","columns":["ticker","premarket_range_bps","midday_range_bps","premarket_multiple"],"rows":[{"ticker":"NVDA","premarket_range_bps":3.6,"midday_range_bps":7.1,"premarket_multiple":0.5},{"ticker":"AAPL","premarket_range_bps":2.4,"midday_range_bps":6.8,"premarket_multiple":0.3},{"ticker":"MSFT","premarket_range_bps":1.8,"midday_range_bps":6,"premarket_multiple":0.3},{"ticker":"SPY","premarket_range_bps":0.9,"midday_range_bps":2.4,"premarket_multiple":0.4},{"ticker":"KO","premarket_range_bps":0,"midday_range_bps":3.9,"premarket_multiple":0}],"shape":"ranking","sql":"SELECT\n    ticker,\n    round(quantileDeterministicIf(0.5)(range_bps, det, phase = 'premarket'), 1) AS premarket_range_bps,\n    round(quantileDeterministicIf(0.5)(range_bps, det, phase = 'midday'), 1)    AS midday_range_bps,\n    round(quantileDeterministicIf(0.5)(range_bps, det, phase = 'premarket')\n        / quantileDeterministicIf(0.5)(range_bps, det, phase = 'midday'), 1)    AS premarket_multiple\nFROM\n(\n    SELECT\n        ticker,\n        multiIf(\n            toHour(toTimeZone(window_start, 'America/New_York')) BETWEEN 4 AND 8,  'premarket',\n            toHour(toTimeZone(window_start, 'America/New_York')) BETWEEN 10 AND 14, 'midday',\n            'other')                                              AS phase,\n        10000 * toFloat64(high - low) / toFloat64(close)           AS range_bps,\n        toUInt32(toUnixTimestamp(window_start))                    AS det\n    FROM global_markets.delayed_stocks_minute_aggs\n    WHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'SPY', 'KO')\n      AND window_start >= '2026-09-01 00:00:00'\n      AND window_start <  '2026-09-19 00:00:00'\n      AND transactions >= 5\n      AND close > 0\n)\nWHERE phase != 'other'\nGROUP BY ticker\nHAVING countIf(phase = 'premarket') > 0\n   AND countIf(phase = 'midday') > 0\nORDER BY premarket_range_bps DESC","computed_at":"2026-09-27T16:14:07.101087+00:00","elapsed":0.052603861}