TickerTalks
Browse all tickers →
TickerTalks›$MIAX
MIMIAX

Miami International Holdings, Inc.

$MIAX·$4.3B·Financial - Capital Markets·Financial Services
$42.32-2.9%YTD+2.0%1Y+37.7%
Mentions · last 7 days
2026-08-05: 12 posts2026-08-06: 6 posts2026-08-07: 7 posts2026-08-08: 0 posts2026-08-09: 1 posts2026-08-10: 5 posts2026-08-11: 5 posts36+3%
Price updated 5m ago·X counts updated 15h ago
MIMIAX
$MIAXMiami International Holdings, Inc.
$42.32-2.91%36 posts+3%
AI analysisFundamentalsVoices on X
Loading…

AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $MIAX, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Proven numbersAcceleratingAI verdict · as of 2026-08-08

The move is getting stronger, with heavier trading behind it.

MIAX Q2 blowout with 35% revenue growth and 20% US options market share — 'chaos helps them' captures the specific franchise dynamic.

Miami International Holdings is a specialty options-exchange operator — MIAX, MIAX Pearl, and MIAX Emerald exchanges plus MIAX Futures — a fast-growing competitor to Cboe and Nasdaq in the US options market. Shares are up 44% over twelve months, sitting mid-range on a Q2 record print.

  • Q2 was a genuine record: net revenue $141.1M (+35% YoY), adjusted EBITDA $76.8M (+57%) with margin expanding 700bps to 54%, and options net revenue $124.4M (+34%) — those are the specific quality metrics that supported the +44% 12-month move.
  • The economics are exceptional: 32% gross margin, 8% operating margin trailing, 8% ROIC, essentially no debt (0.001 D/E), and 5% FCF yield — the multiple (38x trailing PE) is fair for the growth-plus-quality profile.
  • US options market share rose from 16.9% in June to 20.09% in July — 'now as big as NYSE' — that's the specific structural share-take signal that supports the multi-year compounding case.
  • The insider signal is a real distribution cluster: officers Jayabalan ($918K), Comly ($2.03M net), Deitzel ($264K), and multiple other executives exercised and sold on Aug 4 — coordinated executive distribution into strength is worth acknowledging as a counter-signal.

Nov 4 Q3 earnings is the next data point, and the story is whether US options market share continues to expand past 20% plus revenue growth holds above 30% — that combination sustains the +44% 12-month position. A specific market-share plateau, or a competitive pricing squeeze from Cboe/Nasdaq, is what would end the current run. This is a real quality-exchange operator with genuine share-take dynamic and 'chaos helps them' volatility-benefit framing; the entry math is fair for the growth-plus-quality combination.

Agrees with X sentimentThe Q2 record framing (revenue $141.1M +35%, adjusted EBITDA $76.8M +57%, margin +700bps to 54%, options market share 16.9% to 20.09%) is factually right, and CEO Gallagher's 'chaos helps them' captures the specific structural franchise dynamic. Strong bull setup.

What to watch: The Nov 4 Q3 report — US options market share continuing to expand past 20% plus revenue growth holding above 30% sustains the +44% 12-month position; a market-share plateau or competitive pricing squeeze from Cboe/Nasdaq ends the run.

On the calendar: 2026-11-04 — Q3 earnings

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Bullish sentiment40 posts analyzed · as of 2026-08-11

MIAX posters call the Q2 print record-breaking — revenue $141.1M +35% YoY, adjusted EBITDA $76.8M +57% at 54% margin, options ADV 11.0M contracts +25.3%, and cash rising to $660M with no debt. The Nasdaq litigation resolution is highlighted as a major overhang removal. Users flag US options market share at 20.09% (now as big as NYSE) and add-buying below $40 as validated. Sentiment is decisively bullish.

Read the AI verdict + X sentiment for $MIAX

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
Free, forever. No credit card.

What it does

Plain-English summary of the business — what they sell and how they make money.

Operates four U.S. options exchanges (MIAX, Pearl, Emerald, Sapphire), a cash equities venue, and a futures platform serving institutional traders.

Industry overviewAI analysisGenerated by AI from underlying data

Where Financial - Capital Markets sits in its cycle right now — and what that implies for $MIAX.

Financial - Capital Markets · Financial Services

No material change from last week — Robinhood reporting its highest single-day signups confirms the retail infrastructure layer directly benefits from high-profile IPO cycles.

What this means for $MIAX

Neutral — Operates four U.S. options exchanges (MIAX, Pearl, Emerald, Sapphire), a cash equities venue, and a futures platform serving institutional traders; limited read-through from financial - capital markets macro dynamics to this specific revenue mix.

Top industry ETF

$IAIiShares U.S. Broker-Dealers & Securities Exchanges ETF
+5.0%YTD
+7.6%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
37.9How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
7.8%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
8.0%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
5.1%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
2.6Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
15.2%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
32.1%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.0Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q2 2026Aug 5, 2026$0.48$0.41+17.5%
Q1 2026May 6, 2026$0.42$0.36+16.7%
Q4 2025Feb 25, 2026$0.52$0.41+26.8%
Q3 2025Nov 5, 2025$0.42$0.31+35.5%
Next earningsWed, Nov 4·consensus EPS $0.39

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$369.7M+13.0%30.4%11.7%$1.85$49.2M
Q4 FY25$369.4M+14.1%33.7%11.6%$0.34$42.9M
Q3 FY25$339.8M+22.8%32.2%-0.1%$-1.46$50.2M
Q2 FY25$327.8M+22.9%31.9%8.3%$0.30$46.2M

Forward consensus

5-year forecast · up to 6 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$538.5M$528.0M – $549.5M$1.63$1.49 – $1.756
FY27$595.6M$558.2M – $623.2M$1.86$1.66 – $1.976
FY28$626.7M$587.1M – $663.4M$2.02$1.88 – $2.153
FY29$618.0M$584.6M – $649.1M$1.85$1.72 – $1.972
FY30$648.0M$613.0M – $680.6M$1.95$1.81 – $2.081

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.1.0×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.48%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.+1.4%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.-2.9%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatMid float · 86.3M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today1.8% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β1.665-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellAug 4Barbara J. ComlyEVP, GC & Corporate Secretary44.4K sh$2.0MSellAug 4Thomas P. GallagherCEO48.3K sh$2.2MSellAug 4Kurt M. EckertDirector1.1K sh$49KSellAug 4Teekell Judson GrayDirector3.0K sh$137KSellAug 4Edward DeitzelEVP, CRO, CCO MIAX Exchanges11.0K sh$504KSellAug 4Douglas M. SchaferEVP and CIO48.0K sh$2.2MSellAug 4Harish JayabalanEVP, CISO and CRO20.0K sh$918KSellJul 15Cynthia SchwarzkopfDirector5.0K sh$210KSellJul 13Barbara J. ComlyEVP, GC & Corporate Secretary28.0K sh$1.2MSellJul 13Thomas P. GallagherCEO70.0K sh$3.0M
1–10 of 19
+ 43 other (25 awards · 17 exempts · 1 inkind) in window

See when $MIAX insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
Free, forever. No credit card.

SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KUnregistered equity saleJun 228-K — Item 3.02: Unregistered equity sale
AI summary

Miami International Holdings filed an 8-K for Item 3.02 (unregistered equity sales); details are not visible in the excerpt. Unregistered equity issuance details not visible in excerpt.

3New insider — initial holdingsJun 183
AI summary

Abdulwahab A. Alnakib (director, Princeton NJ) filed a Form 3 initial beneficial ownership statement for Miami International Holdings as of June 16, 2026. Administrative disclosure.

8-KShareholder voteJun 188-K — Item 5.07: Shareholder vote
8-KOfficer or director changeJun 178-K — Item 5.02: Officer or director change
AI summary

Miami International Holdings' Compensation Committee adopted the Senior Executive Annual Bonus Plan on June 15, 2026, effective January 1, 2026, with awards based on performance metrics for executive officers (determined by the Comp Committee) and other employees (determined by the CEO). Routine executive bonus plan adoption.

SC 13D/AActivist amendmentMay 21SC 13D/A
AI summary

Jay Kesslen (470 Park Ave S, New York) filed an amended Schedule 13D for Miami International Holdings (CUSIP 59356Q108), with event date May 19, 2026. Specific ownership changes are not visible in the excerpt. Amendment to a previously disclosed 5%+ position in MIAX.

3New insider — initial holdingsApr 283
SC 13D/AActivist amendmentApr 28SC 13D/A
8-KOfficer or director changeApr 278-K — Item 5.02: Officer or director change
+ 18 other (4 8-Ks · 3 earnings 8-Ks · 2 10-Qs · 2 proxys) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

MIAX's Revenue Jumped 35% to a Record. Here's What to Know About Its Insider Activityfool.com·18h agoMIAX Insiders Cashed In Options the Same Day. Here's What to Make of Itfool.com·18h agoMIAX's Tech Chief Cashed In Shares. Here's What to Knowfool.com·18h agoMIAX's CEO Cashed In Options Struck at $12. Here's What to Knowfool.com·18h agoMiami International Q2 Earnings Call Highlightsmarketbeat.com·4d ago

More in Financial - Capital Markets

Peers in the same group — one click to compare setups, fundamentals, and chatter.

$HOOD$GOLD$PURR$CIFR$MARA$CRCL$GLXY$GS
Voices on X · top 8 · last 7 days

TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

PrivacyTermsSupport