pegged orders — 4 answered market questions

Distance between the touches, five household names, 15 September 2026

most recentas of 2026-10-08 ranking 5×4read in context →

Distance between the touches, five household names, 15 September 2026 — 5 rows by 4 columns, computed 2026-10-08 from US exchange, SIP and OPRA data.
symbol	avg_spread_cents	tightest_spread_cents	avg_spread_bps
MSFT	13.22	1	2.6
AAPL	3.6	1	1.1
SPY	2.49	1	0.3
NVDA	1.88	1	0.9
KO	1.34	1	1.5

the exact SQL behind every number

SELECT
    ticker                                                           AS symbol,
    round(avg(toFloat64(ask_price) - toFloat64(bid_price)) * 100, 2) AS avg_spread_cents,
    round(min(toFloat64(ask_price) - toFloat64(bid_price)) * 100, 2) AS tightest_spread_cents,
    round(avg(toFloat64(ask_price) - toFloat64(bid_price))
          / avg(toFloat64(bid_price)) * 10000, 1)                    AS avg_spread_bps
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'SPY', 'KO')
  AND sip_timestamp >= '2026-09-15 08:00:00'
  AND sip_timestamp <  '2026-09-16 00:00:00'
  AND bid_price > 0
  AND ask_price > bid_price
GROUP BY ticker
ORDER BY avg_spread_cents DESC

More from this analysisPrimary Peg vs Market Peg Orders Explained

Share of quotes at a one cent spread, 15 September 2026 ranking 5×4 → Distinct best bid prices per 15 minutes, NVDA against KO series 64×3 → AAPL quoted spread by ET hour, 15 September 2026 series 16×2 → Where one session of AAPL prints actually happened, by venue ranking 15×4 → See all 3,214 queries →