MIAMI INTERNATIONAL HOLDINGS INC (MIAX)
Financials · Financial Exchanges · NYSE
MIAX operates a family of high-performance, technology-driven exchanges for options, equities, and futures trading.
What MIAMI INTERNATIONAL HOLDINGS INC does
Miami International Holdings (MIAX) operates a group of SEC-regulated exchanges for options, equities, and futures trading. The company derives its revenue primarily from trading volume, market data fees, and access and capacity fees across its exchange subsidiaries, including MIAX Options, MIAX Pearl, and MIAX Sapphire.
Themes: financial markets infrastructure, options trading, equities trading, derivatives exchange, market data services
Fundamentals
- Price$42.59 as of 2026-08-21 close
- Market cap$4.2B as of 2026-08-21
- 1-year return+24.0% 2025-08-21 close $34.34 → 2026-08-21 close $42.59
- P/E35.82 as of 2026-08-24
- Net margin+8.7% as of 2026-08-24
- Gross margin+33.2% as of 2026-08-24
- ROE+15.2% as of 2026-08-24
- Debt / equity0.00 as of 2026-08-24
- Revenue growth (YoY)+13.0% as of 2026-08-24
- Revenue CAGR (3y)+14.5% SEC XBRL
- Beta1.12 as of 2026-08-24
- Last reported earnings2026-08-05 SEC EDGAR Form 8-K (Item 2.02)
How MIAX compares in its sector
- price-to-earnings ratiotop 10% 525 covered Financials peers, as of 2026-08-24
- net profit marginbottom 25% 538 covered Financials peers, as of 2026-08-24
- operating marginbottom 25% 534 covered Financials peers, as of 2026-08-24
- gross marginbottom 25% 176 covered Financials peers, as of 2026-08-24
- return on equitymiddle range 575 covered Financials peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 347 covered Financials peers
- free cash flow (absolute dollars, latest fiscal year)middle range 431 covered Financials peers, as of FY2025
Position among covered Financials companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
MIAX is not currently in any published Top 10 list. Its scores are below.
Long-term score
Not scored for the long-term list: no shareholder return data.
Short-term score
44.1 #1184 of 1,704 scored · #211 of 277 in Financials
Catalysts 63rd: open-market insider buys in 90 days 93, the analyst consensus rating is unchanged since the prior reading; setup 62nd: over the past year its closes ranged, and it has retraced around half of its move over the past year — 55% of it; weakest is volume and participation 30th: it gapped 24.4% below the previous close and has not traded back through the level it left behind — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed.
Scores as of 21 Aug 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 2.
How MIAMI INTERNATIONAL HOLDINGS INC looks technically
MIAMI INTERNATIONAL HOLDINGS INC (MIAX) is trading 2.1% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 10 trading days ago — a "death cross", a bearish long-term signal. A trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 22 (a reading of 25+ marks a strong trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 48, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bearish about 10 trading days ago (its momentum flipped negative). It made a new 20-day low about 3 trading days ago. It is 25.5% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 2.1% below its 200-day average, the long-term trend line — a long-term downtrend | -2.1% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $41.98 | $41.98 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $43.49 | $43.49 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing low 10 calendar days ago — the swings before that are what the structure reading is measured on | 10 sessions |
| Wave structure | its recent swings can be read as a five-part upward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five; the labelling fails if price closes below 41.83. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a three-part correction in leg C. | possible upward five-wave sequence, in wave 3 (one of several readings) |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 10 trading days ago — a "death cross", a bearish long-term signal | 10 sessions |
| Trend strength (14-day ADX) | a trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 22 (a reading of 25+ marks a strong trend) | 21.5 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 48, neither overbought (above 70) nor oversold (below 30) | 47.6 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($38.71 to $47.50) — its "stochastic" reading is 44 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 44.1 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bearish about 10 trading days ago (its momentum flipped negative) | 10 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $57.14 | $57.14 |
|---|---|---|
| From the 52-week high | it is 25.5% below its 52-week high (its highest price of the past year) | -25.5% |
| Above the 52-week low | it is 48.8% above its 52-week low (its lowest price of the past year) | +48.8% |
| Below the 52-week high | it is 25.5% below its highest point of the past year | 25.5% |
| Since a 20-day breakout | it made a new 20-day low about 3 trading days ago | 3 sessions |
| Since a 55-day breakout | it made a new 55-day low about 43 trading days ago | 43 sessions |
| All-time high | its highest closing price on record is $57.14 (set on 2026-05-15) | $57.14 |
| Given back of the 52-week move | over the past year its closes ranged ($30.74 to $56.84), and it has given back around half of its rise from last year’s low — 55% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $39.88 to $40.71. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 54.6% |
| From the all-time high | it is 25.5% below its all-time high | -25.5% |
| Nearest price level | not enough price history yet — needs 252 trading sessions | n/a |
| All-time low | its lowest closing price on record is $28.63 (set on 2025-08-14) | $28.63 |
| Above the all-time low | it is 48.8% above its all-time low | +48.8% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 48th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $2.00 between its high and its low — about 4.7% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $2.00 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $40.36 and $47.89 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $40.36 – $44.13 – $47.89 |
| Typical daily range (% of price) | its price moves about 4.7% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 4.7% |
| Stretch from the 200-day average | it is trading 0.5 daily ranges below its 200-day average price (2.1% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.5 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.90× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
1
| Since a doji | 9 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 9 sessions ago |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-21 0.7% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.7% |
|---|---|---|
| Open gap | it gapped 24.4% below the previous close 51 sessions ago and has not traded back through the level it left behind at 51.42 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | -24.4% |
| Gap filled | a 2.4% gap down opened on 2026-07-17 has been "filled" 25 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 25 sessions ago |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +4.9% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 0.8 percentage points (the stock gained 1.6% while the market gained 2.3%) | -0.8% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 20.3 percentage points (the stock lost 17.2% while the market gained 3.1%) | -20.3% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 6.0 percentage points (the stock gained 5.1% while the market gained 11.1%) | -6.0% |
| vs market, 12 months | over the past 12 months this stock beat the market by 3.5 percentage points (the stock gained 24.0% while the market gained 20.5%) | +3.5% |
Signal agreement
2
| Bullish technical signals | 0 of the 9 technical signals we can compute for it are currently in a bullish state — these describe past price behaviour, not a forecast | 0 of 9 |
|---|---|---|
| Bearish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a fresh 20-day low, MACD momentum is negative, lagging the market over 6 months — these describe past price behaviour, not a forecast | 5 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading inside the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the zone traders read as unresolved — neither side has established a trend, and the band is where that gets settled. The band itself is thick, spanning 11.8% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | 0.0% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 1% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $42.25 — a volume-weighted average of daily closes over 150 sessions, not a true tick-by-tick VWAP. | +0.8% |
|---|---|---|
| Vs the average paid since it last reported | the price is 2% below the average price paid since it last reported on 2026-08-05 (its 8-K), so the typical buyer over that stretch is under water. That average is $43.24 — a volume-weighted average of daily closes over 13 sessions, not a true tick-by-tick VWAP. | -1.5% |
Wave structure
Its recent swings can be read as a five-part upward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five.
This labelling fails — stops being a possible reading at all — if it closes below $41.83.
This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.
On past moves of this shape the leg has usually ended somewhere between $48.67 and $52.90 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
Alternate reading: The same swings also read as a three-part correction in leg C, which fails on a close below $41.83.
This reading has stood for 1 trading day, since 2026-08-21.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Recent death cross (50-day crossed below 200-day) · Pulled back from the 12-month high · Broke down to a new 20-day low · lagging the market · Trading at this year’s average price paid (anchored VWAP) | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (2.14 mean, 1=Strong Buy…5=Strong Sell) — 5 analysts
- Mean price target$52.00 range $45.00 – $62.00
Analyst estimates, as of 2026-08-22. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for MIAX
- Consensus EPS estimate$0.4075 next reporting period, as of 2026-08-22
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Intense competition in the exchange industry which could impact pricing and trading volume.","Significant regulatory oversight and compliance requirements that may change and affect operations.","Dependency on maintaining consistent order flow from third-party providers."]
What changed in the latest 10-Q
AI-assisted comparison of MIAX's 10-Q filed 2026-05-08 against the prior one filed 2025-11-07.
Management's Discussion & Analysis (MD&A)
- Added:
- MIAXdx Transaction section describing sale of 90% equity to Robinhood/Susquehanna joint venture on January 20, 2026, retention of 10%, gain of $50.5 million, and assets/liabilities held for sale as of December 31, 2025
- TISE Acquisition section stating completion on June 5, 2025 through MIH East Holdings, Limited, with prior 29.46% ownership and cash consideration of £51.5 million ($69.7 million)
- Pyth Tokens Unlocking section detailing 500 million tokens received in 2021 with four-year unlocking schedule from May 20, 2024, net proceeds of $16.2 million in 2025 and $52.6 million in 2024, remaining 250 million locked tokens expected to unlock May 20, 2026 and May 20, 2027, and derivative asset fair value of $8.6 million as of March 31, 2026
- Reference to audited consolidated financial statements for year ended December 31, 2025 from Company's Annual Report on Form 10-K
- Removed:
- Statement that MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by in-house built, proprietary technology
- Statement that speed and performance of proprietary technology coupled with fully integrated, award-winning customer service sets company apart from competitors
- Reference to audited consolidated financial statements for year ended December 31, 2024 included in Final Prospectus
- Statement that company owns MIAXdx, a DCM and DCO (changed to past tense owned)
- Detailed description of 2029 Senior Secured Term Loan terms including cashless exercise feature, anti-dilution protection, automatic exercise requirement, sixth anniversary redemption right conditions, and Black-Scholes valuation model methodology
- References to fair value of puttable warrants as of December 31, 2024 ($64.2 million) and detailed accounting treatment with effective interest rate of 52.6%
- Details about incremental term loan amendment (Amendment No. 1) entered into in June 2025, including net proceeds of $36.9 million and effective interest rate of 17.0%
- Loss on debt extinguishment of $107.7 million including details of unamortized debt discount and issuance costs
- Reworded:
- Data period changed from 'three and nine months ended September 30, 2025 and 2024' to 'three months ended March 31, 2026 and 2025'
- IPO description changed from 'over-allotment option' to 'underwriters' option to purchase additional shares'
- 2029 Senior Secured Term Loan description condensed and simplified, removing detailed warrant mechanics and redemption conditions
- Warrant exercise events consolidated into single statement: 'During the first quarter of 2026, the remainder of the warrants were exercised, resulting in no warrants outstanding as of March 31, 2026' instead of detailed secondary offering exercise disclosures
- MIAXdx ownership status changed from 'We also own MIAXdx' to 'We also owned MIAXdx' with disposition noted in January 2026
- Notes:
- The newer filing is a Q1 2026 10-Q while the older filing is a Q3 2025 10-Q, so the comparison spans different interim periods and includes Q4 2025 and Q1 2026 events
- Some detailed financial calculations and accounting entries from the older filing appear truncated at the end, potentially affecting completeness of removal analysis
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 30 open-market sales by insiders in the last 90 days.
- Last 30 days0 buys · 7 sells ($8M) — 7 selling insiders
- Last 90 days0 buys · 30 sells ($30M) — 9 selling insiders
- Last 180 days0 buys · 43 sells ($52M) — 10 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-04. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about MIAX's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Congressional trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 1 matched disclosure for MIAX from U.S. House Clerk Periodic Transaction Report filings.
Congressional trading disclosures →Institutional ownership (13F)
5 institutional 13F filers reported holding MIAX as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 4,910,640
- Reported value $191,122,109
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 4 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
MIAX had 6,225,929 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
MIAX had 6.27% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 5.38 days to cover at the same settlement.
- Reported short interest (shares) 6,225,929
- Short interest (% of shares outstanding) 6.27%
- Prior settlement (shares) 7,572,771
- Reported change -17.79%
- Days to cover (reported) 5.38
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare MIAX vs…
Frequently asked questions
What does MIAMI INTERNATIONAL HOLDINGS INC (MIAX) do?
Miami International Holdings (MIAX) operates a group of SEC-regulated exchanges for options, equities, and futures trading. The company derives its revenue primarily from trading volume, market data fees, and access and capacity fees across its exchange subsidiaries, including MIAX Options, MIAX Pearl, and MIAX Sapphire.
What sector is MIAMI INTERNATIONAL HOLDINGS INC (MIAX) in?
MIAMI INTERNATIONAL HOLDINGS INC (MIAX) is classified in the Financials sector. Its industry is Financial Exchanges. It trades on NYSE.
Who are MIAMI INTERNATIONAL HOLDINGS INC's (MIAX) competitors?
Notable peers of MIAMI INTERNATIONAL HOLDINGS INC (MIAX) include Cboe Global Markets, Intercontinental Exchange, Nasdaq and CME Group. This peer set is informational only — not financial advice.
Has there been recent Congressional stock trading in MIAX?
Yes — we hold 1 matched STOCK Act disclosure for MIAX from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is MIAMI INTERNATIONAL HOLDINGS INC (MIAX) overbought or oversold right now?
MIAMI INTERNATIONAL HOLDINGS INC (MIAX) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 48, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on MIAX come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.