SPIKES Volatility Index
The SPIKES Volatility Index (index symbol: SPIKE), is a measure of the expected 30-day volatility in the SPDR S&P 500 ETF (SPY). SPY is the largest exchange traded fund in the world and tracks the most watched stock index in the United States. SPIKES is built using the popular variance swap methodology and uses live SPY option prices to calculate volatility. This is consistent with the way the trading community is used to modelling risk and hedging exposure.
SPIKES Futures (Ticker symbol: SPK) will be offered by MGEX via the CME GLOBEX® platform, and are cleared by MGEX. 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. MIAX is proud to partner with MGEX and T3 Index to offer SPIKES Futures - for more confident volatility trading. Learn more about SPIKES Volatility Products here.