1. Is there a way to know if Block Trade transaction is bought or sold?
There is no way to know if a block transaction is bought or sold! Knowing whether a block was bought or sold is not where the edge exists in following block trades. The side of the market (bid, mid, ask) shows little to no consistency in labeling a trade as bought or sold per our research of over 500,000 trades over the past year.
2. The “Side” Column does not imply Bought “AT ASK” and Sold “AT BID”. The Side of Trade has nothing to do with Bot or Sold.
3. The “MoneyFlow” Column is calculated by multiplying the Price and the Size of the Block Trade transaction.
4. Sweep Order 🟠: A sweep-to-fill order is a type of market order in which a broker splits the order into numerous parts to take advantage of the order sizes at the best prices currently offered on the market. A sweep-to-fill order is executed immediately based on the best possible price and allows the investor to enter a trade as soon as possible.
5. Dark Pool “Late” Orders 🟣: Dark pools were created in order to facilitate block trading by institutional investors who did not wish to impact the markets with their large orders and obtain adverse prices for their trades.
6. Why Block Trades do not present an “intraday” edge and why we discourage traders from paying up for “real-time” block trades data: https://data.bloomberglp.com/tradebook/sites/6/91716_BlockTrading-WP.pdf – Study by Bloomberg
7. How to properly interpret Institutional Block Trades: Our V1 Thesis