Volatility
Index Options
MIAX Options and T3 Index are launching options on the SPIKES Volatility Index, 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 option prices to calculate volatility.
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Introduction to SPIKES™
Resources
The SPIKES Index and volatility products offer a number of unique features designed to produce highly accurate, robust data and create a transparent and open auction settlement process.
Fact
Sheet
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Index
Methodology
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Contract
Specifications
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Settlement
Process
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Latest Press Releases
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.