Oneok's 2.35 Share Price Drop Accompanied by 92 Volume Surge Ranks 314 in U.S. Equity Trading

On September 5, 2025, Oneok (OKE) saw a 2.35% decline in share price, with trading volume surging to $0.36 billion—a 92.26% increase from the previous day. The stock ranked 314th in terms of volume among U.S. equities, indicating heightened investor activity amid mixed market sentiment.

Analysts noted that the sharp volume spike suggests potential short-term volatility, though the downward price movement contrasts with broader market trends. The lack of concrete catalysts in recent earnings reports or regulatory updates implies the move may stem from sector-wide energy price pressures or technical trading dynamics rather than company-specific developments.

For a comprehensive back-test, the following parameters require clarification: equity universe scope (e.g., all U.S. stocks or a defined index), timing of volume-based rankings (pre-market vs. post-market execution), transaction cost assumptions, and execution pricing rules (open-to-close vs. close-to-close holdings). These details will determine the accuracy of signal generation and performance evaluation from January 1, 2022, to the present.