MIAX Options Regulatory: Options On The SPIKES Index

On October 12, 2018, the Securities and Exchange Commission (“SEC”) approved the Exchange’s proposal to list and trade on the Exchange options on the SPIKES™ Index (“SPIKES” or the “Index”), a new index that measures expected 30-day volatility of the SPDR S&P 500 ETF Trust (commonly referred to by its ticker symbol, “SPY”).  The listing and trading of options on SPIKES commenced on February 19, 2019.  Options on SPIKES will be cash-settled, and will have European-style exercise provisions.  The Index is calculated using published real-time prices of SPY options.

Please refer to MIAX Options Regulatory Circular 2019-15 for further details.