Trading on MIAX®, SPIKES Options (SPIKE) allow market participants to hedge their portfolio or express a view on underlying equity markets. SPIKES Options are based on the SPIKES Index, listed on MIAX Options® with fully electronic execution and are cleared by the Options Clearing Corporation (OCC). SPIKES Options are European-style and cash-settled, eliminating the risk of early exercise.
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SPIKES Combo Orders
SPIKES Combo Orders with ratios of up to 8:1 are available. A SPIKES Combo is created by the simultaneous purchase (or sale) of a call and a put option with the same strike and expiry. Investors can use this tool to create a synthetic futures position.