Reading sweep clusters without chasing every print
How we separate repeat sweeps that reshape strike gravity from one-off prints that only look urgent.
A sweep across multiple exchanges can mean urgency — or it can mean a broker routing a large order efficiently. The distinction matters when you are preparing an Options Flow Briefing.
What we mark first
- Repeat direction at nearby strikes within a short window
- Size relative to average daily options volume in that name
- Whether open interest actually changes into the next session
A lone sweep with no follow-through and flat open interest often stays in the “noted, not central” pile. Clusters that build open interest at a strike tend to earn a paragraph in the memo.
Trade context, not a siren
Clients sometimes ask us to “flag every sweep.” We refuse that framing. The job is trade context: which prints alter the map of where dealers and customers may be leaning, and which prints are theatre.
If you want this discipline applied to your watchlist, request a briefing.