STRASMORE/EXPLORE 2,170 QUERIES

Pooled opening drop per dollar paid, by calendar year

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 2026-08-14, from Why stocks drop on the ex-dividend date.

as of ranking 5×3read in context →
Pooled opening drop per dollar paid, by calendar year — 5 rows by 3 columns, computed from US exchange, SIP and OPRA data.
yearpayment_countdrop_per_dollar_paid
2021400.85
2022400.93
2023400.92
2024400.78
2025400.81
Rows × columns
5 × 3
Computed
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 Pooled opening drop per dollar paid, by calendar year, derived from the stored result.
ColumnTypeRangeNotes
year text 5 distinct values (2021, 2022, 2023…)
payment_count number every row is 40 count
drop_per_dollar_paid number 0.78 to 0.93

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 , and the query below is what returned them.

the exact SQL behind every number
WITH
prices AS
(
    SELECT
        ticker,
        date,
        open_px,
        any(close_px) OVER (PARTITION BY ticker ORDER BY date ASC ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING) AS prior_close
    FROM
    (
        SELECT
            ticker,
            date,
            toFloat64(max(open))  AS open_px,
            toFloat64(max(close)) AS close_px
        FROM global_markets.stocks_daily_aggs
        WHERE ticker IN ('KO','PG','JNJ','PEP','XOM','CVX','MCD','HD','VZ','ABBV')
          AND date >= '2020-12-01'
          AND date <  '2026-01-01'
        GROUP BY ticker, date
    )
),
ex_days AS
(
    SELECT
        ticker,
        ex_dividend_date            AS ex_date,
        toFloat64(max(cash_amount)) AS dividend
    FROM global_markets.stocks_dividends
    WHERE ticker IN ('KO','PG','JNJ','PEP','XOM','CVX','MCD','HD','VZ','ABBV')
      AND ex_dividend_date >= '2021-01-01'
      AND ex_dividend_date <  '2026-01-01'
      AND cash_amount > 0
    GROUP BY ticker, ex_dividend_date
)
SELECT
    toString(toYear(e.ex_date))                                AS year,
    count()                                                    AS payment_count,
    round(sum(p.prior_close - p.open_px) / sum(e.dividend), 2) AS drop_per_dollar_paid
FROM ex_days AS e
INNER JOIN prices AS p ON p.ticker = e.ticker AND p.date = e.ex_date
WHERE p.prior_close > 0
GROUP BY year
ORDER BY year

Run your own version of this

The same 22 years of US equities and 12 years of options data are queryable in SQL or plain English. A free account runs 100 queries a day and takes no card.

More from this analysisWhy stocks drop on the ex-dividend date
Opening drop per dollar of dividend paid, ex-dates 2021 to 2025 ranking 10×4 Quarterly dividend against ordinary overnight moves, 2021 to 2025 ranking 10×4 KO: dividend per share against the realised opening drop, every ex-date 2021 to 2025 series 20×4 How long after the ex-date the cash actually arrives ranking 10×3 Days between consecutive ex-dividend dates, against the 121-day window ranking 6×3 Every 121-day window around a Coca-Cola ex-dividend date series 14×6 See all 2,170 queries →