Overnight brief: what tokenized US stocks did while Wall Street was closed
Every US trading day we measure, from our own readings of public blockchains, how tokenized US stocks moved between the 16:00 New York close and the next 09:30 open, how much of the opening move was already in the token price, and how much could be sold during the night. On Mondays, the weekend edition runs from Friday’s close to Monday’s open.
One night is an anecdote. Each edition describes one night. It does not show what the next night will do, and nothing here is a forecast. The track record at the end shows how the nights compare.
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The ten stocks of Fillable 10
Each stock by its token with the most money in its pools within 2% of the price at the close. In basis points: 100 bp = 1%. S/M is shown when the open move is 20 bp or more.
| Stock | OvernightS, bp | At the openM, bp | S/M | Same way | Sellable at the closewithin 2% |
|---|
How much could be sold during the night
Dollars of the ten’s tokens that could be sold before the price fell 2%, at six moments, New York time: the last reading before the close, the evening, the early morning, the last reading before the open, and after the open. The same tokens at every moment.
The biggest moves during the night
Each token’s largest move from its close inside the night, counted only at readings where its pools could take $10,000 both ways (sold and bought) within 2% of the price. The ten largest.
| Token | Largest movebp | WhenNew York | At the openbp |
|---|
Every other stock with $10,000 both ways at the close (0)
Each stock with a night and an open reading, by its token with the most money in its pools within 2% at the close, shown when those pools could take $10,000 both ways within 2% of the price then.
| Stock | OvernightS, bp | At the openM, bp | S/M | Same way | Sellable at the closewithin 2% |
|---|
Track record: the last 20 nights
The same rules every night. The ten: median overnight move (S) and open move (M), S/M, and how many moved the same way. Depth: the ten’s tokens sellable within 2% at 02:00 against the close. Biggest move: the first of the night’s biggest moves, at a reading with $10,000 both ways within 2%. Gaps: periods of over 30 minutes without a new reading.
| Night | Sbp | Mbp | S/M | Same way | Depth 02:00 | Fillable 10bp | Biggest move | Gaps |
|---|
How to read it
- The night. From the 16:00 New York close to the next 09:30 open. Nights next to a US market holiday or after an early close are left out.
- S, the overnight move. The token’s price at the last reading before the open against its last reading before the close, from the token’s own pools.
- M, the open move. The same at the first reading 15 minutes or more after the open. S/M is how much of the open move was already there before the open. Same way: S and M both 1 bp or more, in the same direction.
- The ten. The stocks of Fillable 10, our daily cost index: SPY, QQQ, NVDA, TSLA, AAPL, GOOGL, META, CRCL, MSTR and COIN.
- Fillable 10 overnight. What a $10,000 round trip cost: buying the token and selling it again, fees and price impact included, by the index’s own rules, the median of the night’s readings.
- $10,000 both ways. The biggest moves and the other stocks count only where the token’s pools could take $10,000 sold and $10,000 bought within 2% of the price at that reading. Moves in near-empty pools are left out and counted.
- Neutrality. Under our neutrality rule some tokens are never named in the biggest moves or the track record; they are counted instead.
- Our own readings only. Every 15 minutes, from the tokens’ pools on four public blockchains. No real-share price is used. A token’s price can differ from its share’s.
Measurement, not advice. We never say what to buy, sell or hold.