Sweep Order
An options sweep is an execution routed rapidly across multiple exchanges to access displayed liquidity. It describes how an order traded, without proving the trader's identity, intent or direction.
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What is an options sweep order?
An options sweep routes rapidly across multiple venues to take available liquidity. Its speed and exchange coverage reveal something about execution urgency. They do not establish that the participant is informed or that the trade will be profitable.
Explore the product: Options Flow Features | How to Read Options Flow
How to read a sweep
- Inspect the package. A call sweep can be one leg of a spread, roll or hedge. Group multi-leg orders before interpreting direction.
- Compare gross and net premium. A large headline can contain substantial offsetting activity.
- Check the symbol's baseline. A sweep-heavy session matters differently for a normally quiet name and a frequently traded index.
- Compare with price and open interest. Later open-interest changes add series-level context, without identifying the holder of a particular print.
Customize the sweep definition
TradesViz lets you set the trade-duration range, number of exchanges, number of executions and whether to use the OPRA condition code. Enable custom definitions, adjust the criteria and save the filter combination as a preset.
Sweeps, blocks and splits
A sweep emphasizes rapid multi-venue routing. A block or cross describes a large negotiated or crossed execution. A split describes execution worked in pieces. These labels help explain the tape; none is a ranking of how correct or well-informed a trade is.
Where to find it in TradesViz
Example
An order filled across four exchanges within two seconds may satisfy your sweep criteria. Inspect its related legs and net premium before assigning a directional interpretation.