{"slug":"why-overnight-orders-must-be-limit-orders","qid":"minute_volume_by_hour","label":"Average per-minute volume by ET hour (AAPL, 4:00 a.m. to 8:00 p.m., September 2026)","post_title":"Why Overnight Orders Must Be Limit Orders","post_url":"/blog/why-overnight-orders-must-be-limit-orders#q-minute_volume_by_hour","columns":["et_hour","avg_minute_volume","avg_minute_volume_label","avg_trades_per_minute","share_of_window_volume_pct"],"rows":[{"et_hour":"04:00","avg_minute_volume":2364,"avg_minute_volume_label":"2.36 thousand","avg_trades_per_minute":114,"share_of_window_volume_pct":0.31},{"et_hour":"05:00","avg_minute_volume":883,"avg_minute_volume_label":"883.00","avg_trades_per_minute":35,"share_of_window_volume_pct":0.1},{"et_hour":"06:00","avg_minute_volume":1202,"avg_minute_volume_label":"1.20 thousand","avg_trades_per_minute":42,"share_of_window_volume_pct":0.15},{"et_hour":"07:00","avg_minute_volume":1908,"avg_minute_volume_label":"1.91 thousand","avg_trades_per_minute":60,"share_of_window_volume_pct":0.3},{"et_hour":"08:00","avg_minute_volume":3524,"avg_minute_volume_label":"3.52 thousand","avg_trades_per_minute":84,"share_of_window_volume_pct":0.56},{"et_hour":"09:00","avg_minute_volume":106170,"avg_minute_volume_label":"106.17 thousand","avg_trades_per_minute":1999,"share_of_window_volume_pct":17.16},{"et_hour":"10:00","avg_minute_volume":101153,"avg_minute_volume_label":"101.15 thousand","avg_trades_per_minute":3027,"share_of_window_volume_pct":16.35},{"et_hour":"11:00","avg_minute_volume":79905,"avg_minute_volume_label":"79.91 thousand","avg_trades_per_minute":2675,"share_of_window_volume_pct":12.91},{"et_hour":"12:00","avg_minute_volume":58992,"avg_minute_volume_label":"58.99 thousand","avg_trades_per_minute":1682,"share_of_window_volume_pct":9.53},{"et_hour":"13:00","avg_minute_volume":58166,"avg_minute_volume_label":"58.17 thousand","avg_trades_per_minute":1350,"share_of_window_volume_pct":9.4},{"et_hour":"14:00","avg_minute_volume":66973,"avg_minute_volume_label":"66.97 thousand","avg_trades_per_minute":1447,"share_of_window_volume_pct":10.82},{"et_hour":"15:00","avg_minute_volume":108574,"avg_minute_volume_label":"108.57 thousand","avg_trades_per_minute":2250,"share_of_window_volume_pct":17.55},{"et_hour":"16:00","avg_minute_volume":28389,"avg_minute_volume_label":"28.39 thousand","avg_trades_per_minute":50,"share_of_window_volume_pct":4.26},{"et_hour":"17:00","avg_minute_volume":3101,"avg_minute_volume_label":"3.10 thousand","avg_trades_per_minute":26,"share_of_window_volume_pct":0.38},{"et_hour":"18:00","avg_minute_volume":886,"avg_minute_volume_label":"886.00","avg_trades_per_minute":23,"share_of_window_volume_pct":0.11},{"et_hour":"19:00","avg_minute_volume":834,"avg_minute_volume_label":"834.00","avg_trades_per_minute":24,"share_of_window_volume_pct":0.1}],"shape":"table","sql":"WITH bars AS\n(\n    SELECT\n        formatDateTime(toTimeZone(window_start, 'America/New_York'), '%H:00') AS et_hour,\n        toFloat64(volume)                                                     AS vol,\n        toFloat64(transactions)                                               AS trades\n    FROM global_markets.delayed_stocks_minute_aggs\n    WHERE ticker = 'AAPL'\n      AND window_start >= '2026-09-01 00:00:00'\n      AND window_start <  '2026-09-19 00:00:00'\n      AND toHour(toTimeZone(window_start, 'America/New_York')) BETWEEN 4 AND 19\n      AND volume > 0\n)\nSELECT\n    et_hour,\n    toUInt32(round(avg(vol)))                                AS avg_minute_volume,\n    formatReadableQuantity(round(avg(vol)))                  AS avg_minute_volume_label,\n    toUInt32(round(avg(trades)))                             AS avg_trades_per_minute,\n    round(100 * sum(vol) / (SELECT sum(vol) FROM bars), 2)    AS share_of_window_volume_pct\nFROM bars\nGROUP BY et_hour\nORDER BY et_hour","computed_at":"2026-09-27T16:14:06.379608+00:00","elapsed":0.002056738}