Share of regular-session volume by half hour, SPY and AAPL
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 2026-08-10, from Why Trading Volume Dies at Midday: U-Shape.
| et_time | spy_pct | aapl_pct |
|---|---|---|
| 09:30 | 12.15 | 17.86 |
| 10:00 | 8.93 | 9.69 |
| 10:30 | 7.44 | 7.73 |
| 11:00 | 6.97 | 7.04 |
| 11:30 | 6.05 | 6.16 |
| 12:00 | 5.35 | 5.46 |
| 12:30 | 5.16 | 5.16 |
| 13:00 | 5.15 | 5.25 |
| 13:30 | 5.15 | 4.88 |
| 14:00 | 5.9 | 5.03 |
| 14:30 | 6.02 | 5.12 |
| 15:00 | 7.49 | 6.21 |
| 15:30 | 18.26 | 14.4 |
- Rows × columns
- 13 × 3
- Period covered
- to
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
et_time |
date | 09:30 to 15:30 | |
spy_pct |
number | 5.15 to 18.26 | percent |
aapl_pct |
number | 4.88 to 17.86 | percent |
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 session_minutes AS
(
SELECT
ticker,
formatDateTime(
toStartOfInterval(toTimeZone(window_start, 'America/New_York'), INTERVAL 30 MINUTE),
'%H:%i') AS et_time,
toFloat64(volume) AS share_volume
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker IN ('SPY', 'AAPL')
AND window_start >= '2025-01-02 00:00:00'
AND window_start < '2026-07-01 00:00:00'
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) >= 570
AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
+ toMinute(toTimeZone(window_start, 'America/New_York'))) < 960
),
by_bucket AS
(
SELECT
ticker,
et_time,
sum(share_volume) AS bucket_volume
FROM session_minutes
GROUP BY ticker, et_time
),
ticker_totals AS
(
SELECT
ticker,
sum(bucket_volume) AS ticker_volume
FROM by_bucket
GROUP BY ticker
)
SELECT
b.et_time AS et_time,
round(100 * sumIf(b.bucket_volume, b.ticker = 'SPY')
/ max(if(t.ticker = 'SPY', t.ticker_volume, 0)), 2) AS spy_pct,
round(100 * sumIf(b.bucket_volume, b.ticker = 'AAPL')
/ max(if(t.ticker = 'AAPL', t.ticker_volume, 0)), 2) AS aapl_pct
FROM by_bucket AS b
INNER JOIN ticker_totals AS t ON t.ticker = b.ticker
GROUP BY b.et_time
ORDER BY b.et_time
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