What is the meaning of Spik?

Alternative spelling of spic.

blubber, especially of grindahvalur (pilot whale)

blubber (of whales, seals, etc.)

body fat, especially if excessive

blubber (of whales, seals, etc.)

synonym of sen (“sleep”)

a nail (spike-shaped metal fastener)

nails (spike-shaped metal fasteners)

an (almost) fail-safe bet

a single (sometimes a banker); a bet on only a single horse (to win) in a race

hole in one (in miniature golf)

completely, utterly

a rod of iron used in manual production of glass objects. May have all kinds of length and diameter, and can be used in many different ways. May be hollow inside, but must never have any hole on the tip. Must not be confused with puntel and the glass-blower pipe.

Source: wiktionary.org