Lesson 7 of 8 · 2 min
Sweeps, blocks & spreads
The trade types you'll see in options flow feeds — and why most of them are ambiguous.
Trade types
- Sweep — a large order split across several exchanges at once to fill quickly. Suggests urgency.
- Block — a large trade negotiated and printed as a single transaction.
- Spread — several legs traded together (for example buying one strike and selling another). A single leg viewed alone can look like a directional bet when the full structure isn't.
- Roll — closing a position in one expiry or strike and opening another, often to maintain a hedge.
Ambiguity
The same print can be a new bet, a hedge, a close, or part of a spread. Flow feeds label trades with inferences, not certainties.
Trading implication
Unusual options activity is interesting context. On its own it's a weak reason to take a futures trade.
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