Yes, spike is in the scrabble dictionary

...and is worth 12 points by itself.

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Spike Definition

noun

A heavy nail.
from The American Heritage Dictionary of the English Language, 4th Edition
A long, thick, sharp-pointed piece of wood or metal.
from The American Heritage Dictionary of the English Language, 4th Edition
A pair of athletic shoes having such projections.
from The American Heritage Dictionary of the English Language, 4th Edition
A pair of spike heels.
from The American Heritage Dictionary of the English Language, 4th Edition
A sharp momentary increase in voltage or electric current.
from The American Heritage Dictionary of the English Language, 4th Edition

verb-transitive

Football To throw (the ball) down in a spike.
from The American Heritage Dictionary of the English Language, 4th Edition
Informal To add a poison or other chemical to: a drink spiked with barbituates.
from The American Heritage Dictionary of the English Language, 4th Edition
Informal To add alcoholic liquor to: spiked the punch with rum.
from The American Heritage Dictionary of the English Language, 4th Edition
Informal To add excitement or vitality to: spiked the speech with many jokes.
from The American Heritage Dictionary of the English Language, 4th Edition
Informal To add flavor or spice to: "several herb vinegars, including one . . . spiked with colorful chive blossoms” ( New England Living).
from The American Heritage Dictionary of the English Language, 4th Edition

verb

To fasten or furnish with.
from Free Scrabble Dictionary
To disable (a muzzle-loading cannon) temporarily by driving a spike into the vent.
from Free Scrabble Dictionary
To suppress or block completely.
from Free Scrabble Dictionary
To pierce or impale with or on a spike.
from Free Scrabble Dictionary
To reject (as a story) for publication or broadcast for editorial reasons.
from Free Scrabble Dictionary

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Wildcard(?) letters appear in RED

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Top Words by points

Points

kepis

11

2 letter words with SPIKE

Points

is

2

ki

6

si

2

es

2

pe

4

pi

4

3 letter words with SPIKE

Points

pis

5

ski

7

sip

5

sei

3

psi

5

pie

5

pes

5

kis

7

kip

9

kep

9

4 letter words with SPIKE

Points

kips

10

keps

10

pies

6

pike

10

kepi

10

sike

8

sipe

6

skep

10

skip

10

5 letter words with SPIKE

Points

kepis

11

pikes

11

spike

11

Found 28 words in 0.12835 seconds