Are Call Sweeps Bullish?
The short answer is not always. I have been tracking and trading Unusual Options Activity for many years and I have seen both Bullish & Bearish sweeps on the Call side. What this means is that you can have a sweep order to sell Calls which is essentially taking a bearish position.
Normally a bearish Call sweep will see the order coming through on the “Bid side” .
This is what a bearish call sweep looks like. Notice the Calls were swept on the “Bidside”
These are the Options with the most time left until expiration. Or, simply, the most distant expiration months. As you can see in the image below, the Jan 2024 and the Jun 2024 expiration would be considered the “back months” because they have 570 and 724 days to expiration, respectively.
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