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Miami International Holdings, Inc. (MIH), owner of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEXTM), and Bermuda Stock Exchange (BSXTM), announced today that Webull Financial LLC (Webull) is now offering SPIKES® Options on its trading platform. SPIKES Options will be available to customers who are approved to trade options on Webull's trading platform.
SPIKES Options are traded on the SPIKES Volatility Index (Ticker: SPIKE), which updates every 100 milliseconds for pinpoint accuracy. The index is a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). SPIKES products, built on SPY, are transforming the volatility asset class. SPIKE Options trade under the symbol "SPIKE" on the MIAX Options Exchange and are cash-settled with monthly expirations. More information about SPIKES products can be found here.
"MIH is committed to providing innovative products and solutions to the derivatives marketplace. We are excited to be working with Webull to make volatility products more accessible to the end user," said Thomas P. Gallagher, Chairman and CEO of MIH. "With the launch of SPIKES Options on Webull's platform, Webull customers around the world now have a choice when it comes to trading U.S. equity volatility products, as SPIKES Options offer the ability to directly trade volatility on SPY, the largest ETF in the world."
Webull, an independent, self-directed broker dealer synergizes technology with finance by providing reliable, professional and efficient products and services. By expanding its offering to include SPIKES Options, individual traders now have greater access to trading volatility.
"Diversification is important for our clients and we want to be able to offer a comprehensive suite of investment products across our platform," said Anthony Denier, CEO of Webull. "Providing access to SPIKES Options through the Webull platform is another example of how we are bringing innovative products to individual traders that have traditionally only been accessible to institutional market participants."
