If you want to do something with the Nth space-delimited token that contains a slash char, I'd use token identifiers like 5618 suggested (N is 1 in this example):
Code:
var %text = some text here this-token-contains-a/slash more text here 
if ($matchtok(%text,/,1,32)) {
  - do something with $v1 -
}

To me, this is more handy than an equivalent regex:
Code:
var %text = some text here this-token-contains-a/slash more text here
if ($regex(%text,/(\S*\/\S*)/)) {
  - do something with $regml(1) - 
}
(check like for a space-delimited token: "capture the first occurance of zero or more non-space chars, followed by a slash (using the "\"char to escape the "/" metachar), followed by zero or more non-space chars").