MANH Options History — November 2007

In November 2007, MANH traded between $6.62 and $7.33. ATM implied volatility averaged 39.5%, placing in the 60.1% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded above realized volatility by 2.3% (HV 20d: 37.2%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.13.

Notable Days

2007-11-02: Highest Volume — 232 contracts
2007-11-09: Largest IV spike — 44.5% change
2007-11-14: Highest IV Rank — 92.0%
2007-11-29: Largest Expected Move — 13.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.92	$6.62	$7.33	$7.16	$6.78
Max Pain	$7.50	$7.50	$7.50	$7.50	$7.50
ATM IV	39.5%	27.5%	51.6%	38.7%	43.5%
Expected Move	11.6%	10.1%	13.0%	11.1%	12.5%
HV 20d	37.2%	33.8%	40.3%	40.1%	34.3%
HV 60d	35.0%	33.2%	38.1%	38.1%	36.5%
IV Rank	60.1%	28.4%	92.0%	57.9%	70.6%
IV Percentile	77.0%	28.4%	98.6%	78.6%	86.5%
Term Structure	-0.5%	-4.7%	2.3%	-0.9%	-2.5%
VWIV	36.0%	35.2%	36.9%	35.2%	36.9%
Skew 25d	5.7%	-4.6%	14.9%	-4.6%	1.3%
Skew 10d	14.6%	-4.8%	25.2%	-4.8%	-2.5%
Call IV 25d	37.2%	29.4%	42.9%	38.0%	42.2%
Put IV 25d	42.9%	33.4%	46.7%	33.4%	43.6%
Bid-Ask Spread %	65.93	42.12	90.97	90.97	84.74
Gamma HHI	0.40	0.31	0.60	0.56	0.32
Net GEX	21.9K	10.2K	50.4K	41.7K	11.6K
Net DEX	-439.8K	-950.8K	-221.3K	-801.2K	-318.8K
Net VEX	-6.7K	-8.0K	-5.9K	-7.9K	-6.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.13	0.00	1.00	0.00	0.00
Total Volume	34.857	0	232	0	60
Total OI	5,631.048	4,920	6,164	6,020	5,032

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2007-11-01	$7.16	$7.50	38.7%	11.1%	40.1%	57.9%	0.0%	-4.6%	-0.9%	41.7K	-801.2K	-7.9K	0.00	90.97	0	0	4,072	1,948
2007-11-02	$7.33	$7.50	35.2%	10.1%	39.1%	48.7%	35.2%	0.9%	0.4%	50.4K	-950.8K	-8.0K	0.00	42.12	232	0	4,072	1,948
2007-11-05	$7.21	$7.50	37.3%	10.6%	39.1%	54.2%	0.0%	4.8%	-0.6%	50.1K	-869.4K	-7.7K	0.00	50.31	80	0	4,216	1,948
2007-11-06	$7.21	$7.50	38.1%	10.4%	39.0%	56.6%	0.0%	14.9%	-0.2%	48.3K	-757.2K	-7.6K	0.03	69.24	120	4	4,208	1,948
2007-11-07	$6.97	$7.50	36.8%	11.2%	40.2%	53.0%	0.0%	7.6%	0.2%	36.0K	-558.4K	-7.3K	0.00	70.25	0	0	4,208	1,952
2007-11-08	$6.83	$7.50	27.5%	12.2%	39.8%	28.4%	0.0%	5.9%	0.8%	15.5K	-283.0K	-6.7K	1.00	47.11	40	40	4,208	1,952
2007-11-09	$6.72	$7.50	39.7%	12.7%	38.5%	60.8%	0.0%	5.5%	0.7%	17.5K	-234.3K	-6.6K	0.00	48.65	0	20	4,208	1,952
2007-11-12	$6.78	$7.50	38.6%	12.6%	35.0%	57.7%	0.0%	5.9%	-1.7%	14.3K	-254.9K	-6.5K	0.00	50.45	0	0	4,208	1,932
2007-11-13	$6.97	$7.50	36.2%	10.5%	36.2%	51.3%	0.0%	9.6%	0.8%	26.8K	-385.3K	-6.7K	0.00	61.95	0	0	4,208	1,932
2007-11-14	$6.88	$7.50	51.6%	12.4%	35.9%	92.0%	0.0%	5.2%	-0.9%	17.0K	-332.5K	-6.4K	0.00	67.50	0	4	4,208	1,892
2007-11-15	$6.85	$7.50	44.6%	12.8%	35.8%	73.6%	0.0%	6.4%	-4.7%	14.4K	-309.9K	-6.5K	0.00	68.52	0	0	4,208	1,896
2007-11-16	$6.98	$7.50	35.6%	10.2%	36.4%	49.8%	35.8%	10.1%	1.2%	14.3K	-361.4K	-6.6K	0.00	61.05	8	0	4,208	1,896
2007-11-19	$6.91	$7.50	36.2%	10.4%	35.4%	51.4%	36.9%	8.6%	0.1%	14.5K	-425.9K	-6.3K	0.00	73.28	4	0	3,236	1,684
2007-11-20	$6.92	$7.50	37.4%	10.7%	34.0%	54.6%	0.0%	6.3%	0.6%	13.8K	-396.0K	-6.4K	0.00	56.85	0	40	3,240	1,684
2007-11-21	$6.77	$7.50	42.9%	12.3%	33.8%	69.2%	0.0%	2.6%	-2.8%	12.3K	-338.3K	-6.2K	0.00	72.04	0	0	3,240	1,724
2007-11-23	$6.93	$7.50	37.7%	10.8%	35.0%	55.3%	0.0%	7.7%	-0.5%	14.1K	-406.4K	-6.3K	0.00	73.45	0	0	3,240	1,724
2007-11-26	$6.62	$7.50	43.4%	12.4%	37.3%	70.4%	0.0%	2.8%	2.3%	10.2K	-221.3K	-5.9K	0.00	76.02	0	40	3,240	1,724
2007-11-27	$6.74	$7.50	44.8%	12.8%	38.3%	74.0%	0.0%	4.9%	0.2%	11.4K	-268.9K	-6.0K	0.00	72.64	40	0	3,240	1,752
2007-11-28	$6.96	$7.50	37.8%	10.8%	40.3%	55.7%	0.0%	8.6%	1.3%	13.8K	-402.4K	-6.2K	0.00	76.25	0	0	3,280	1,752
2007-11-29	$6.88	$7.50	45.5%	13.0%	38.4%	75.9%	0.0%	5.5%	-3.9%	12.8K	-360.0K	-6.1K	0.00	71.14	0	0	3,280	1,752
2007-11-30	$6.78	$7.50	43.5%	12.5%	34.3%	70.6%	0.0%	1.3%	-2.5%	11.6K	-318.8K	-6.0K	0.00	84.74	60	0	3,280	1,752