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Median quoted spread and the cost of a $25,000 round trip: midday hour, July 15, 2026

most recentas of 2026-08-03 ranking 6×3read in context →

Median quoted spread and the cost of a $25,000 round trip: midday hour, July 15, 2026 — 6 rows by 3 columns, computed 2026-08-03 from US exchange, SIP and OPRA data.
ticker	median_spread_bps	round_trip_cost_per_25k_usd
MSTR	10.08	25.2
MSFT	2.01	5.03
NVDA	1.43	3.59
AAPL	1.24	3.09
KO	1.21	3.01
SPY	0.27	0.66

the exact SQL behind every number

SELECT ticker,
       round(quantileDeterministic(0.5)(20000 * (toFloat64(ask_price) - toFloat64(bid_price))
                                        / (toFloat64(ask_price) + toFloat64(bid_price)),
                                        cityHash64(sip_timestamp)), 2) AS median_spread_bps,
       round(25000 * quantileDeterministic(0.5)(2 * (toFloat64(ask_price) - toFloat64(bid_price))
                                                / (toFloat64(ask_price) + toFloat64(bid_price)),
                                                cityHash64(sip_timestamp)), 2) AS round_trip_cost_per_25k_usd
FROM global_markets.cache_stocks_quotes
WHERE ticker IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'MSTR')
  AND sip_timestamp >= toDateTime('2026-07-15 15:00:00')
  AND sip_timestamp < toDateTime('2026-07-15 16:00:00')
  AND bid_price > 1
  AND ask_price > bid_price
GROUP BY ticker
ORDER BY median_spread_bps DESC

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