The quoted spread for each order is the difference between the ask and bid prices:
|
Time of Trade |
Ask minus Bid Price |
Quoted Spread |
|
10 a.m. |
$10.07 - $10.00 |
$0.07 |
|
12 p.m. |
$9.96 - $9.90 |
$0.06 |
|
1 p.m. |
$9.94 - $9.88 |
$0.06 |
The average quoted spread is a simple average of the quoted spreads: ($0.07 + $0.06 + $0.06) / 3 = $0.0633
