Block Order
A block or cross is a large negotiated or crossed options execution. Its premium and execution structure add context, but do not establish directional conviction or identify the participant.
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What is an options block trade?
A block is a large options execution, often negotiated or crossed. Its size makes it visible on a premium-ranked feed, but the public tape does not establish whether it opens a position, closes one, forms a hedge or belongs to a larger structure.
Explore the product: Options Flow Features | How to Read Options Flow
Block trades versus sweeps
| Execution type | What to examine | What it does not prove |
|---|---|---|
| Block or cross | Negotiated or crossed execution and package structure | Strong or weak conviction |
| Sweep | Rapid routing across multiple exchanges | Informed or correct trading |
| Split | Executions worked in pieces | A new position being accumulated |
Read block activity in context
In the guide's historical market example, block and negotiated premium represented 36.2% of the session against a usual 26.9%. That changes how the headline premium should be read: negotiated turnover is not the same observation as aggressive open-market demand.
Use the Market tab's execution mix and the symbol's daily block/sweep/split breakdown to compare the session with its baseline. Then inspect the underlying orders.
Check the complete order
Enable multi-leg grouping in the flow table. Read leg count, gross and signed net premium together, and expand the package. A large call print can be part of a spread or a roll; the execution label alone cannot settle that question.
Where to find it in TradesViz
Example
In the guide's example, block/negotiated premium was 36.2% of the session versus 26.9% normally, a 9.3 percentage-point difference.