SPIKES® Overview
SPIKES Volatility Index
The SPIKES Volatility Index is a measure of the expected 30-day volatility in the SPDR S&P 500 ETF (SPY). SPIKES is built using the popular variance swap methodology and uses live options prices to calculate volatility.
SPIKES Volatility Products
SPIKES Options:
- Trading on MIAX
SPIKES Combos:
- SPIKES Combo Orders with ratios of up to 8:1 are available. SPIKES Combinations are the purchase (or sale) of a SPIKES call option and sale (or purchase) of a SPIKES put option with the same expiry and strike.
To learn more about SPIKES volatility products please contact sales@tradespikes.com or 609.897.8177
Please see the latest update regarding SPIKES Futures.
Latest Press Releases
November 18, 2019
MGEX Launches SPIKES Futures in Collaboration with MIAX and T3 Index
Miami International Securities Exchange, LLC (MIAX®) and the Minneapolis Grain Exchange, Inc. (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today reported the launch of futures on the SPIKES® Volatility Index (SPIKES).
September 23, 2019
MIAX and MGEX Announce SPIKES Futures Launch Date - SPIKES Futures (Ticker: SPK) to Launch on MGEX Via the CME Globex Platform on November 18, 2019
PRINCETON, N.J. and MINNEAPOLIS, MN, September 23, 2019 – Miami International Securities Exchange, LLC (MIAX) and the Minneapolis Grain Exchange, Inc. (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced the launch date and the achievement of key milestones for futures on the SPIKES® Volatility Index (SPIKES).
May 01, 2019
Miami International Holdings and MGEX Partner to List and Trade SPIKES Futures on MGEX
PRINCETON, N.J. and MINNEAPOLIS, MN, May 1, 2019 – Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL™ and MIAX Emerald™ options exchanges (the MIAX Exchange Group™), and the Minneapolis Grain Exchange, Inc. (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) registered with the Commodity Futures and Trading Commission (CFTC), today announced that they have entered into an agreement pursuant to which MGEX will serve as the exclusive exchange to list, trade and clear futures products on the SPIKES® Volatility Index (SPIKES; Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). SPIKES futures are expected to be available on MGEX in Q3 2019, subject to CFTC approval. SPIKES options are now available exclusively on the MIAX Options Exchange.February 21, 2019
SPIKES Options Launched on MIAX - MIAX Options Executes Strategy to Transform Market as First True Competitor in Volatility Space
MIAX Options® on Tuesday began its first day of volatility options trading on the SPIKES™ Index (Ticker: SPIKE), an index designed with a fully-transparent process featuring pinpoint accuracy and radically faster dissemination.
February 05, 2019
Volatility Trading to Launch on SPIKES Index - MIAX Options Exchange Begins Trading February 19, Opening Volatility Market to Competition for First Time in History
MIAX Options® is scheduled to launch volatility trading on the SPIKES™ Index (Ticker: SPIKE) February 19, marking the end of exclusivity in the volatility market.
October 15, 2018
MIAX Options Exchange Gets Green Light on New Volatility Product
MIAX Options® today announced that it has received approval from the U.S. Securities and Exchange Commission (SEC) to list and trade cash-settled options on the SPIKES™ Index (Ticker: SPIKE), transforming the competitive landscape of the volatility trading market dominated by a single player for the last 15 years.
April 30, 2018
MIAX Options Begins Publishing SPIKES Volatility Index on OPRA
MIAX Options® today announced that it has begun publishing the SPIKES™ Volatility Index (Ticker: SPIKE), following a successful launch of the Index. Transmission of the underlying Index value is being done via OPRA, with an option settlement value to follow at a later date.