SPIKES Logo Spikes Logo with One Color SPIKES Logo Spikes Logo with One Color MIAX Logo (White) MIAX Logo with White MIAX Options Logo (underlined) MIAX Options Logo in White with underline MIAX PEARL Logo (underlined) MIAX PEARL Logo in White with underline MIAX Emerald Logo (underline) MIAX Emerald Logo in White with underline Contact Icon Phone icon used to suggest contact information Subscriptions & Notifications Icon Bell icon used to suggest Subscription & Notification information Portal Icon Silhouette icon used to suggest Portal/Profile functionality Search Icon Magnifying Glass icon used to suggest Search functionality Close Icon An X icon used to suggest the dismissal of information US Flag Icon An simplified Unites States Flag used to categorize content types Plus Icon A plus sign in a circle designates expandable content Minus Icon A minus sign in a circle designates closeable, expanded content News Icon A folded newspaper icon Paper Icon A few paper sheets as an icon to represent documents Process Icon An icon showing a series of arrows and elements that represents a decision tree or process Download Icon An inbox icon representing the download action Download Icon An inbox icon representing the download action Metrics Icon Three bars representing a graph Date Icon Calendar icon representing notable dates FAQ Icon A question mark icon used for Frequently Asked Questions Contract Icon A document icon with a ribbon Clipboard Icon An icon of a clipboard containing information and checkmarks Podcast Icon An icon showing a microphone SPIKES Resource Guide A booklet icon FAQ An icon of a question mark in a page Carr White Paper An icon of the letter C in a page Vrije White Paper An icon of the letter V in a page Combo Linked to Future An icon of chain link in a page Rate Card An icon of a dollar sign and a bar graph in a page Expiration Calendar An icon of a calendar with a analog clock on the lower righthand corner Index Calculation An calculator icon How to Trade An icon showing a rising line graph MIAX Options Logo (underlined) MIAX Options Logo in White with underline MIAX PEARL Logo (underlined) MIAX PEARL Logo in White with underline MIAX Emerald Logo (underline) MIAX Emerald Logo in White with underline

SPIKES® Options

Trade like an innovator.

Trading on MIAX®, one of the fastest and most efficient options platforms in the world, our fully electronic execution offers lower latency and higher throughput. Thanks to MIAX's unparalleled determinism and unmatched uptime, SPIKES Options (SPIKE) allows traders to do more, more often.

Now, with the release of SPIKES® Futures, volatility traders will also benefit from a tighter bid/ask spread in the SPIKES Options market, significantly enhanced hedging opportunities, and increased arbitrage opportunities.

You don't have to settle when it comes to volatility products. Contact sales@tradespikes.com to get started.

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.

SPIKES Resource
Guide

All your key documents in one place

Download

Options
Summary

Brief Overview of SPIKES Index and Options

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Index
Methodology

Complete walkthrough of SPIKES index calculation

Download

Options Contract
Specifications

Characteristics of SPIKES Options

Download

Settlement
Process

Guide describing how the settlement value is determined

Download

Rate
Card

Fee schedule for SPIKES and related transactions

Download

Index Calculation
Spreadsheet

Interactive SPIKES Index calculation example worksheet

Download

Peter Carr
White Paper

Study by Peter Carr on differentiators of SPIKES

Download

Expiration
Calendar

Monthly expirations for SPIKES Options and Futures

Download

Vrije University
White Paper

Study by Vrije University Amsterdam on differentiators of SPIKES

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