AI Research MARA

MARA Monday opening gaps vs Tue–Fri gaps over ~3 years

MARA’s Monday opening gaps are meaningfully larger and more volatile than gaps on the rest of the week: the mean absolute Monday gap is about 3.11% versus 2.17% for Tuesday–Friday (difference ≈0.94 percentage point), and the difference is statistically robust (Welch t p≈0.0003; Levene p≈0.0000). Put simply, weekend bitcoin moves are being compressed into a single repricing at Monday open, and that repricing is both bigger and less predictable than typical weekday openings.

Below you’ll find the full computed study — data window, minute-bar to RTH conversions, the gap-by-weekday comparisons, distributional charts, and formal tests — that support this conclusion and show how extreme moves concentrate on Mondays.

The research question

For MARA over the past ~3 years, is the Monday opening gap (Friday close → Monday open) systematically larger and more volatile than the gaps on other weekdays, since the stock sits out the weekend while Bitcoin keeps trading around the clock? Thesis: Monday gaps dwarf Tuesday–Friday gaps in both size and dispersion because the open has to reprice two days of weekend crypto moves at once, so the weekday a gap lands on matters far more than traders assume.

How this was measured

Converted MARA minute bars to New York time and filtered to regular trading hours (Mon–Fri, 09:30–16:00 ET). For each trading day, computed the opening gap as (today's RTH open / prior trading day's RTH close − 1). Monday gaps thus span the full weekend (Fri close → Mon open). Grouped gaps by weekday, compared Monday against Tue–Fri on mean absolute gap (magnitude) via Welch's t-test and on dispersion via Levene's variance test. Window: 2023-05-31 to 2026-05-29 (restricted to last ~3y).

The key numbers

Monday mean |gap|
3.1127%
N=138 Mondays
Tue–Fri mean |gap|
2.1743%
N=594 Tue–Fri days
Difference (Mon − Tue–Fri) in |gap|
0.9383%
Welch t p-value (|gap| Mon vs Tue–Fri)
0.0003
p=0.0003 < 0.05 → Monday magnitude differs
Monday std (signed gaps)
4.2049%
Tue–Fri std (signed gaps)
2.9875%
Levene p-value (variance Mon vs Tue–Fri)
0.0000
p=0.0000 < 0.05 → variances differ
Monday mean signed gap
0.3206%
Tue–Fri mean signed gap
0.3023%
90th percentile |gap| (all days)
4.6852%
Share of Monday gaps ≥ 90th pct
18.1159%
N=138
Share of Tue–Fri gaps ≥ 90th pct
8.2492%
N=594

Reading the numbers

Mondays average a 3.11% opening gap versus about 2.17% on Tue–Fri — roughly 0.00938 (0.94 percentage points) larger. That difference is statistically significant (Welch p = 0.00032285) and Monday gaps are measurably more variable (Levene p = 1.5317e-05).

The charts

MARA opening gap magnitude by weekday (|gap|)
What this chart says

The box plot shows Monday absolute gaps sit noticeably higher than the other weekdays: Monday mean is 0.0311 with a min of 0.0003 and a max of 0.1896, whereas other days cluster around means near 0.021–0.023. Look at the long Monday whiskers and the extreme Monday max — they indicate more big outliers on Mondays. This visual pattern matches the stats that Monday gaps are both larger on average and more dispersed than Tue–Fri.

Mean absolute opening gap by weekday
What this chart says

The bar chart makes the mean difference easy to see: Monday mean |gap| = 0.0311 versus Tuesday–Friday values of 0.0213, 0.0219, 0.0230 and 0.0208, so Monday is about 0.00938 larger than the Tue–Fri average. Note the sample backing: 138 Mondays versus 594 Tue–Fri days overall, and the mean difference is statistically significant (Welch p = 0.00032285). In short, the weekday the gap falls on matters — Mondays are systematically bigger.

Weekday gap summary (MARA, RTH open vs prior close)

WeekdayNMean gapMedian gapStd gapMean |gap|Std |gap|
Monday1380.00320.0050.0420.03110.0283
Tuesday151-0.0023-0.00430.02970.02130.0207
Wednesday1490.00510.00380.02920.02190.0198
Thursday1450.004400.03230.0230.023
Friday1490.0050.00550.02790.02080.0192

The takeaway

Yes — Monday opening gaps for MARA are meaningfully larger and more volatile than gaps on other weekdays. The average absolute Monday gap is about 3.11% versus 2.17% for Tuesday–Friday, a difference of roughly 0.94 percentage points, and Monday signed-gap volatility is ~4.20% vs ~2.99% for the other days (N=138 Mondays, N=594 Tue–Fri). Mondays also make up 18.1% of the top-decile absolute gaps while Tue–Fri collectively account for about 8.25%, so extreme moves are concentrated on Mondays. These differences are statistically robust: the mean-difference test gives p≈0.00032 (only about a 3-in-10,000 chance the magnitude gap is pure luck) and the variance test gives p≈0.000015 (about a 1.5-in-100,000 chance the volatility gap is luck). In plain terms this is a strong, conclusive signal — not a coin flip or a weak lean. Practical takeaway: treat weekend risk as real and larger than intraday weekday risk — expect bigger and more variable re-pricing at Monday open and plan sizing/hedges accordingly.

The fine print