Sweep Order
A large options order that is split across multiple exchanges and executed rapidly to fill immediately at the best available prices.
More Details
What is a Sweep Order?
A Sweep Order is a type of options trade where a large order is split across multiple exchanges simultaneously to achieve immediate execution. This is the most aggressive order type in options trading.
Learn more: Options Flow Features | Options Flow Scanner
Key Characteristics
- Multi-Exchange Execution: The order routes to multiple exchanges at once
- Speed Priority: Designed for immediate fills, sacrificing price optimization
- High Urgency: Indicates the trader needs to enter/exit NOW
- Premium Paid: Often pays above the ask to guarantee fills
Why Sweeps Matter
Sweeps signal urgency and conviction. When a trader sweeps 10,000 contracts across 5 exchanges in seconds, they are prioritizing execution over price. This suggests time-sensitive information or strong directional conviction.
Bullish vs Bearish Sweeps
- Bullish Sweep: Call buying or Put selling swept aggressively
- Bearish Sweep: Put buying or Call selling swept aggressively
TradesViz Implementation
Filter sweeps by premium size, time of day, and underlying to find the highest conviction institutional trades.
Where to find it in TradesViz
Example
A 5,000 contract AAPL 180C sweep across 4 exchanges in under 2 seconds.