# Mastering Block Trades How to Execute Large Crypto Orders ▴ Guide

**Published:** 2025-08-08
**Categories:** Guide

---

![A translucent sphere with intricate metallic rings, an 'intelligence layer' core, is bisected by a sleek, reflective blade. This visual embodies an 'institutional grade' 'Prime RFQ' enabling 'high-fidelity execution' of 'digital asset derivatives' via 'private quotation' and 'RFQ protocols', optimizing 'capital efficiency' and 'market microstructure' for 'block trade' operations](https://options.greeks.live/wp-content/uploads/2025/07/precision-rfq-engine-for-digital-asset-derivatives-best-execution.jpg)

![Abstract metallic components, resembling an advanced Prime RFQ mechanism, precisely frame a teal sphere, symbolizing a liquidity pool. This depicts the market microstructure supporting RFQ protocols for high-fidelity execution of digital asset derivatives, ensuring capital efficiency in algorithmic trading](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-institutional-digital-asset-derivatives-prime-os-architecture-driving-rfq-protocol-execution-and-capital-efficiency-optimization.jpg)

## The Mandate for Precision Execution

Executing substantial capital allocations in the digital asset market presents a distinct set of challenges and opportunities. A sophisticated approach to large-scale trading moves beyond the simple act of buying or selling on a public exchange. It involves a deep understanding of [market microstructure](https://prime.greeks.live/area/market-microstructure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) and the deliberate management of information. The primary obstacle for significant orders is the dual threat of [price impact](https://prime.greeks.live/area/price-impact/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) and information leakage.

A large order placed directly onto a central limit order book acts as a powerful signal to the entire market, broadcasting intent and creating an adverse feedback loop. Other participants, both human and algorithmic, will react to this signal, shifting their own pricing and [liquidity provision](https://prime.greeks.live/area/liquidity-provision/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) in a way that moves the market away from the trader’s desired entry or exit point. This phenomenon, known as [slippage](https://prime.greeks.live/area/slippage/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), is a direct and quantifiable cost, eroding the profitability of a strategy before it has even been fully implemented.

The professional standard for mitigating these risks is the Request for Quote (RFQ) system. An RFQ mechanism transforms the execution process from a public broadcast into a private, competitive auction. Instead of revealing an order to the entire market, a trader confidentially requests quotes from a select group of trusted, high-volume liquidity providers. These [market makers](https://prime.greeks.live/area/market-makers/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) compete to fill the order, submitting their best bids or offers directly to the trader.

This contained price discovery process ensures that the order’s size does not disrupt the broader market equilibrium. The trader receives a firm, executable price for the entire block, effectively eliminating the risk of slippage that plagues orders walked down a thin order book. This method grants the trader control over the execution variables, turning a moment of high market risk into a structured, predictable transaction.

Understanding this distinction is fundamental to operating at an institutional level. The public market is an environment of anonymous, continuous competition where information is the most valuable commodity. Voluntarily offering information about a large position is a strategic blunder. The RFQ process is an engineered solution to this precise problem.

It creates a closed environment where the flow of information is controlled, competition is directed, and the final execution price is optimized. Mastering this tool means shifting one’s perspective from being a passive participant in the market’s chaos to an active director of one’s own execution. It is the foundational skill upon which all large-scale crypto portfolio strategies are built. The ability to move significant capital without moving the market is the first and most critical step toward achieving superior, repeatable outcomes.

![Internal mechanism with translucent green guide, dark components. Represents Market Microstructure of Institutional Grade Crypto Derivatives OS](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-crypto-derivatives-rfq-engine-for-high-fidelity-execution.jpg)

![Abstract mechanical system with central disc and interlocking beams. This visualizes the Crypto Derivatives OS facilitating High-Fidelity Execution of Multi-Leg Spread Bitcoin Options via RFQ protocols](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-engine-microstructure-for-high-fidelity-block-trades.jpg)

## The Execution Doctrine in Practice

Applying the principles of precision execution requires a disciplined, systematic approach. The RFQ process, while conceptually straightforward, contains nuances that separate proficient operators from the rest. It is a doctrine built on preparation, strategic counterparty selection, and decisive action.

The goal is to translate a portfolio management decision into a completed trade with minimal friction and maximum price fidelity. This section details the operational frameworks for executing both spot and complex derivatives block trades, providing a clear methodology for institutional-grade performance.

![Intersecting translucent blue blades and a reflective sphere depict an institutional-grade algorithmic trading system. It ensures high-fidelity execution of digital asset derivatives via RFQ protocols, facilitating precise price discovery within complex market microstructure and optimal block trade routing](https://options.greeks.live/wp-content/uploads/2025/07/precision-algorithmic-execution-infrastructure-for-institutional-digital-asset-derivatives-leveraging-advanced-rfq-protocols.jpg)

## Executing a Spot Block Trade

Acquiring or liquidating a significant spot position in an asset like Bitcoin or Ethereum is a common institutional requirement. Using an RFQ system for this purpose is a measure of operational maturity. The process ensures that the final execution price is as close as possible to the prevailing market rate at the moment of decision, preserving the integrity of the investment thesis.

![A precise metallic and transparent teal mechanism symbolizes the intricate market microstructure of a Prime RFQ. It facilitates high-fidelity execution for institutional digital asset derivatives, optimizing RFQ protocols for private quotation, aggregated inquiry, and block trade management, ensuring best execution](https://options.greeks.live/wp-content/uploads/2025/07/advanced-principal-trading-systems-driving-high-fidelity-institutional-digital-asset-derivatives-rfq-execution-protocols.jpg)

## The Four Pillars of Spot RFQ Execution

A successful spot block trade rests on a foundation of methodical preparation and execution. Each step is designed to control variables and reduce uncertainty, leading to a predictable and efficient outcome.

- 
**Counterparty Curation And Management**
Your access to liquidity is only as strong as your network of market makers. Building and maintaining relationships with a diverse set of high-quality liquidity providers is a continuous process. These are not anonymous counterparties on an exchange; they are specialized trading firms with robust balance sheets and sophisticated pricing models. A trader’s curated list should include firms with different trading styles and risk appetites.
Some may be consistently competitive on BTC, while others may specialize in specific altcoins. The ongoing evaluation of these counterparties based on their responsiveness, pricing competitiveness, and settlement reliability is a critical background task. Before initiating any RFQ, you should have a pre-vetted list of at least five to seven providers to ensure broad and competitive price discovery.

- 
**Pre-Trade Market Analysis**
Before requesting a single quote, a thorough analysis of the current market state is essential. This involves examining order book depth on major exchanges to understand the visible liquidity landscape. Analyzing recent volume profiles can reveal periods of higher or lower market activity, which can influence market maker pricing. A key metric to observe is the volatility term structure; higher near-term implied volatility may widen the spreads offered by providers.
The objective of this analysis is to choose the optimal moment to enter the market. Initiating a large RFQ during a period of extreme market stress or low liquidity can result in wider quotes and less favorable execution. Patience and timing, informed by data, are paramount.

- 
**The RFQ Initiation And Auction**
With a curated counterparty list and a chosen execution window, the RFQ is initiated. On a professional trading platform, this involves specifying the asset, the size of the block, and the direction (buy or sell). The system then privately sends this request to the selected market makers. A timer begins, typically lasting from 30 seconds to a few minutes, during which the providers submit their firm quotes.
This is the competitive auction in action. As the quotes arrive, they are displayed in real-time, allowing the trader to see the spread and the most competitive price. The process is anonymous from the market makers’ perspective; they know a request has been made but do not see their competitors’ quotes. This anonymity forces them to price aggressively based on their own models and risk appetite.

- 
**Execution And Settlement**
Once the auction timer expires, or once a sufficient number of competitive quotes have been received, the trader makes the final decision. The best bid or offer can be selected with a single click, executing the entire block at the quoted price. The trade is now bilaterally agreed upon with the winning market maker. The final step is settlement.
In modern crypto [RFQ systems](https://prime.greeks.live/area/rfq-systems/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), this is often handled automatically through pre-funded accounts or via integrations with digital asset custodians. The assets and funds are exchanged simultaneously, mitigating settlement risk. A clear record of the transaction, including the executed price, time, and counterparty, is generated for auditing and performance tracking. This clean, decisive execution stands in stark contrast to the uncertainty and market risk of working a large order on a public exchange.

![A sleek, multi-layered institutional crypto derivatives platform interface, featuring a transparent intelligence layer for real-time market microstructure analysis. Buttons signify RFQ protocol initiation for block trades, enabling high-fidelity execution and optimal price discovery within a robust Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/institutional-crypto-derivatives-os-precision-execution-rfq-protocol-intelligence-layer.jpg)

## Executing Complex Options Structures as a Single Block

The true power of a sophisticated execution facility becomes apparent when dealing with multi-leg options strategies. Attempting to execute a strategy like a collar (buying a protective put and selling a covered call) or a straddle (buying a call and a put at the same strike) by trading each leg separately on a public exchange is fraught with peril. The market can move between the execution of the first leg and the second, a phenomenon known as “legging risk.” This risk can turn a theoretically profitable strategy into a losing one. RFQ systems solve this by allowing the entire multi-leg structure to be quoted and executed as a single, atomic transaction.

> Executing a 1,000 BTC collar on a public exchange can easily incur over 50 basis points in slippage and leg-in risk, a potential cost of over $300,000 at a $60,000 BTC price, which is fully mitigated by a competitive RFQ.

![Detailed metallic disc, a Prime RFQ core, displays etched market microstructure. Its central teal dome, an intelligence layer, facilitates price discovery](https://options.greeks.live/wp-content/uploads/2025/07/principal-operating-system-intelligence-layer-powering-digital-asset-derivatives-rfq-protocols-for-optimal-execution.jpg)

## A Framework for Multi-Leg Options Execution

When you request a quote for a multi-leg options spread, you are not just asking for a price; you are asking market makers to price a complex risk profile as a single package. This requires a higher level of sophistication from both the trader and the liquidity provider.

- 
**Strategy Definition And Pricing Benchmarks**
The first step is to precisely define the desired structure. For a risk-reversal (buying a call, selling a put), this would include the asset (e.g. ETH), the expiration date, and the strike prices for both the call and the put. Before going out for a quote, the trader should use a theoretical pricing model (like Black-Scholes or a more advanced model) to establish a “fair value” benchmark for the spread.
This benchmark provides a crucial reference point for evaluating the competitiveness of the quotes received from market makers. It allows the trader to assess not just the final price, but the implied volatility and skew that the market makers are using in their pricing.

- 
**Quoting The Package**
The RFQ is sent out for the entire package. Market makers receive the request for the specific multi-leg structure and must provide a single net price for the entire trade. For example, a collar might be quoted as a net debit or credit to the trader. This holistic pricing is a significant advantage.
The market maker is able to internalize the risks of all the legs simultaneously, often resulting in a better net price than if each leg were quoted independently. They can net their own portfolio risks against the trader’s package, a benefit that is passed on in the form of a tighter spread.

- 
**Atomic Execution And Risk Management**
The execution of the multi-leg spread is atomic. This means all legs of the strategy are filled simultaneously in a single transaction. There is zero legging risk. The moment the trade is executed, the trader has the exact risk profile they intended to establish.
This is a critical component of institutional risk management. Portfolio hedging strategies must be precise. The atomicity of RFQ execution ensures that the hedge is put in place exactly as designed, without any slippage or partial fills that could leave the portfolio exposed. This level of precision is simply unattainable for large, complex strategies in the public markets.

![Precision metallic component, possibly a lens, integral to an institutional grade Prime RFQ. Its layered structure signifies market microstructure and order book dynamics](https://options.greeks.live/wp-content/uploads/2025/08/high-fidelity-institutional-digital-asset-rfq-execution-engine.jpg)

![A metallic, cross-shaped mechanism centrally positioned on a highly reflective, circular silicon wafer. The surrounding border reveals intricate circuit board patterns, signifying the underlying Prime RFQ and intelligence layer](https://options.greeks.live/wp-content/uploads/2025/08/the-core-institutional-digital-asset-derivatives-rfq-os-engine-for-high-fidelity-market-microstructure.jpg)

## Portfolio Integration and the Liquidity Frontier

Mastery of block execution is not an end in itself. It is a capability that, once developed, unlocks more sophisticated portfolio-level strategies. The ability to transact at scale without incurring significant friction costs fundamentally changes how a portfolio manager can express market views and manage risk.

It allows for a more dynamic and opportunistic approach to capital allocation, moving beyond static positions into a realm of active, large-scale portfolio engineering. This is where a consistent alpha edge is forged, in the deliberate and efficient implementation of high-conviction ideas.

![A macro view of a precision-engineered metallic component, representing the robust core of an Institutional Grade Prime RFQ. Its intricate Market Microstructure design facilitates Digital Asset Derivatives RFQ Protocols, enabling High-Fidelity Execution and Algorithmic Trading for Block Trades, ensuring Capital Efficiency and Best Execution](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-core-system-for-institutional-digital-asset-derivatives-rfq-protocol-execution-and-advanced-market-microstructure-optimization.jpg)

## Systematic Alpha Generation and Risk Hedging

The integration of [block trading](https://prime.greeks.live/area/block-trading/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) capabilities into a portfolio management framework elevates a manager’s ability to act decisively. It transforms theoretical strategies into executable realities. Whether establishing a new core position, hedging existing exposure, or engaging in relative value trades, efficient execution is the bridge between concept and performance.

A portfolio manager who can, for instance, deploy a $50 million position in a token with minimal market impact has a structural advantage over one who cannot. This advantage compounds over time, leading to a significant divergence in performance outcomes.

![A polished, dark spherical component anchors a sophisticated system architecture, flanked by a precise green data bus. This represents a high-fidelity execution engine, enabling institutional-grade RFQ protocols for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-institutional-digital-asset-derivatives-rfq-core.jpg)

## Building a Resilient Portfolio with Advanced Execution

The consistent application of these tools allows for the construction of a more robust and adaptive portfolio. It is a shift from being a market participant to a market operator.

- 
**Dynamic Beta Hedging**
Consider a portfolio with a large, diversified holding of crypto assets. If the manager develops a bearish short-term view on the overall market, they need to hedge that systemic risk, or “beta.” A common strategy is to purchase a large block of put options on a market benchmark like BTC or ETH. Using an RFQ to execute this purchase as a single block ensures the hedge is applied quickly and at a known cost.
Attempting to acquire this protection on the open market would signal distress, driving up the price of the very insurance the manager is trying to buy. Efficient block execution makes dynamic, portfolio-wide hedging a feasible and repeatable process.

- 
**Yield Generation Through Volatility Selling**
Sophisticated funds often generate yield by selling volatility. A popular strategy is to systematically sell covered calls or cash-secured puts at scale. This involves writing thousands of options contracts. Executing these structures as large, multi-leg blocks via RFQ is vastly more efficient than legging into them on public exchanges.
Market makers who specialize in volatility arbitrage can absorb these large packages, often providing a better net premium to the seller. This operational efficiency directly translates to a higher annualized yield for the portfolio, turning a complex market-making strategy into a scalable source of income.

- 
**Relative Value And Arbitrage At Scale**
Many quantitative strategies rely on identifying and capitalizing on relative value discrepancies, for instance, between the price of a perpetual future and the spot price. These opportunities are often fleeting and require the ability to execute large, two-sided trades simultaneously to lock in the spread. An RFQ system that can handle multi-leg spot and derivatives trades is the ideal venue for this.
A fund can request a quote to simultaneously sell a block of perpetual futures and buy the equivalent notional amount in the spot market. The atomic execution guarantees the capture of the arbitrage spread, a feat that is nearly impossible to achieve at scale without incurring significant slippage on at least one leg of the trade.

The continued maturation of the crypto market structure is inexorably moving toward the standards of traditional finance. The development of robust RFQ systems, prime brokerage services, and sophisticated custodial solutions is laying the groundwork for a new wave of institutional capital. The firms that will succeed in this environment are those that have mastered the operational mechanics of professional-grade trading.

Understanding and utilizing block execution is a prerequisite for entry into this premier league. It is a foundational element of a system designed for resilience, alpha generation, and long-term capital preservation in the dynamic world of digital assets.

![Abstract forms depict institutional digital asset derivatives RFQ. Spheres symbolize block trades, centrally engaged by a metallic disc representing the Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-system-prime-os.jpg)

## Beyond the Fill Price

The journey from a retail mindset to an institutional one is marked by a fundamental shift in focus. It is a progression from concentrating solely on an asset’s direction to an obsession with the quality and precision of its execution. Mastering the mechanics of block trading provides more than just better pricing; it instills a sense of control and strategic discipline. The market ceases to be a chaotic environment of unpredictable outcomes and becomes a system of inputs and outputs that can be engineered for success.

Every basis point saved from slippage is alpha. Every risk mitigated through atomic execution is a structural enhancement to your portfolio. This mastery is a continuous process of refinement, a commitment to operational excellence that becomes the bedrock of sustained performance. The ultimate edge is found here, in the quiet confidence of knowing you can deploy capital on your own terms, at any scale, at any time.

![Interlocking transparent and opaque components on a dark base embody a Crypto Derivatives OS facilitating institutional RFQ protocols. This visual metaphor highlights atomic settlement, capital efficiency, and high-fidelity execution within a prime brokerage ecosystem, optimizing market microstructure for block trade liquidity](https://options.greeks.live/wp-content/uploads/2025/07/modular-framework-for-crypto-derivatives-os-rfq-protocol-aggregation.jpg)

## Glossary

<a href="https://prime.greeks.live/area/market-microstructure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Luminous teal indicator on a water-speckled digital asset interface. This signifies high-fidelity execution and algorithmic trading navigating market microstructure](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-best-execution-prime-os.jpg)

## Market Microstructure

Meaning ▴ Market Microstructure, within the cryptocurrency domain, refers to the intricate design, operational mechanics, and underlying rules governing the exchange of digital assets across various trading venues. </a><a href="https://prime.greeks.live/area/price-impact/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sleek, futuristic institutional-grade instrument, representing high-fidelity execution of digital asset derivatives. Its sharp point signifies price discovery via RFQ protocols](https://options.greeks.live/wp-content/uploads/2025/07/precision-rfq-execution-engine-for-institutional-digital-asset-derivatives.jpg)

## Price Impact

Meaning ▴ Price Impact, within the context of crypto trading and institutional RFQ systems, signifies the adverse shift in an asset's market price directly attributable to the execution of a trade, especially a large block order. </a><a href="https://prime.greeks.live/area/liquidity-provision/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Engineered object with layered translucent discs and a clear dome encapsulating an opaque core. Symbolizing market microstructure for institutional digital asset derivatives, it represents a Principal's operational framework for high-fidelity execution via RFQ protocols, optimizing price discovery and capital efficiency within a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-protocol-execution-intelligence-engine.jpg)

## Liquidity Provision

Meaning ▴ Liquidity Provision refers to the essential act of supplying assets to a financial market to facilitate trading, thereby enabling buyers and sellers to execute transactions efficiently with minimal price impact and reduced slippage. </a><a href="https://prime.greeks.live/area/slippage/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated, layered circular interface with intersecting pointers symbolizes institutional digital asset derivatives trading. It represents the intricate market microstructure, real-time price discovery via RFQ protocols, and high-fidelity execution](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-institutional-digital-asset-derivatives-rfq-market-microstructure.jpg)

## Slippage

Meaning ▴ Slippage, in the context of crypto trading and systems architecture, defines the difference between an order's expected execution price and the actual price at which the trade is ultimately filled. </a><a href="https://prime.greeks.live/area/market-makers/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision-engineered, multi-layered mechanism symbolizing a robust RFQ protocol engine for institutional digital asset derivatives. Its components represent aggregated liquidity, atomic settlement, and high-fidelity execution within a sophisticated market microstructure, enabling efficient price discovery and optimal capital efficiency for block trades](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-engine.jpg)

## Market Makers

Meaning ▴ Market Makers are essential financial intermediaries in the crypto ecosystem, particularly crucial for institutional options trading and RFQ crypto, who stand ready to continuously quote both buy and sell prices for digital assets and derivatives. </a><a href="https://prime.greeks.live/area/rfq-systems/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated mechanical core, split by contrasting illumination, represents an Institutional Digital Asset Derivatives RFQ engine. Its precise concentric mechanisms symbolize High-Fidelity Execution, Market Microstructure optimization, and Algorithmic Trading within a Prime RFQ, enabling optimal Price Discovery and Liquidity Aggregation](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-rfq-engine-for-institutional-digital-asset-derivatives-precision-execution.jpg)

## Rfq Systems

Meaning ▴ RFQ Systems, in the context of institutional crypto trading, represent the technological infrastructure and formalized protocols designed to facilitate the structured solicitation and aggregation of price quotes for digital assets and derivatives from multiple liquidity providers. </a><a href="https://prime.greeks.live/area/block-trading/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A metallic, reflective disc, symbolizing a digital asset derivative or tokenized contract, rests on an intricate Principal's operational framework. This visualizes the market microstructure for high-fidelity execution of institutional digital assets, emphasizing RFQ protocol precision, atomic settlement, and capital efficiency](https://options.greeks.live/wp-content/uploads/2025/08/high-fidelity-digital-asset-derivatives-rfq-protocol-system-infrastructure.jpg)

## Block Trading

Meaning ▴ Block Trading, within the cryptocurrency domain, refers to the execution of exceptionally large-volume transactions of digital assets, typically involving institutional-sized orders that could significantly impact the market if executed on standard public exchanges. </a>

**Tags:** [Best Execution](https://options.greeks.live/area/best-execution/), [Price Impact](https://options.greeks.live/area/price-impact/), [RFQ Systems](https://options.greeks.live/area/rfq-systems/), [Multi-Leg Execution](https://options.greeks.live/area/multi-leg-execution/), [Market Microstructure](https://options.greeks.live/area/market-microstructure/), [Market Makers](https://options.greeks.live/area/market-makers/)	

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- 
### [Minimize Slippage and Command Liquidity with RFQ Systems](https://options.greeks.live/guide/minimize-slippage-and-command-liquidity-with-rfq-systems/)
![A sharp, metallic form with a precise aperture visually represents High-Fidelity Execution for Institutional Digital Asset Derivatives. This signifies optimal Price Discovery and minimal Slippage within RFQ protocols, navigating complex Market Microstructure. The background implies diverse Liquidity Pools and Capital Efficiency on a Principal's Prime RFQ.](https://options.greeks.live/wp-content/uploads/2025/07/precision-execution-institutional-digital-asset-derivatives-rfq.jpg)

Command liquidity, eliminate slippage, and execute complex options trades with institutional precision using RFQ systems.

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---

**Original URL:** https://options.greeks.live/guide/mastering-block-trades-how-to-execute-large-crypto-orders/
