Split Order
A split order is an options execution worked in pieces, typically on one exchange. Detection uses execution timing and count criteria; it does not prove that a participant is building a position.
More Details
What is a split options order?
A split describes an options execution broken into pieces, typically on one exchange. The duration and number of executions used to identify it are criteria that can be adjusted. The label does not tell you why the order was placed.
Explore the product: Options Flow Features | How to Read Options Flow
Splits and multi-leg orders describe different things
Split describes how an execution was filled. Multi-leg describes a package containing different option contracts. An order can involve both. Grouping multi-leg orders lets you examine the contracts together instead of treating each large leg as a separate directional decision.
Read the package's gross and net premium, strike range, expiry range and leg count. Expand it to verify the individual legs.
Set your own split criteria
TradesViz's custom split definition exposes:
- Trade duration in seconds.
- Number of executions.
- Whether to use the OPRA condition code.
Enable custom definitions and save the filter settings as a preset. The same research filters apply across dashboard tabs.
Repeated prints are not proof of accumulation
Summed premium records turnover. Opening and closing the same contracts can produce repeated activity without a lasting position. Check later open interest for evidence that net new contracts remained in the series, and use Footprint to inspect session counts and concentration.
Where to find it in TradesViz
Example
Several executions may meet your chosen split criteria. A grouped package may also contain multiple contracts; inspect both the execution details and the package structure.