MANH Options History — August 2008

In August 2008, MANH traded between $6.08 and $6.47. ATM implied volatility averaged 31.6%, placing in the 16.5% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 0.3% (HV 20d: 31.3%). Max pain ranged from $5.63 to $6.25. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.11.

Notable Days

2008-08-01: Highest Volume — 1,724 contracts
2008-08-14: Largest IV spike — 20.8% change
2008-08-19: Highest IV Rank — 22.8%
2008-08-04: Largest Expected Move — 10.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.27	$6.08	$6.47	$6.28	$6.13
Max Pain	$5.83	$5.63	$6.25	$6.25	$6.25
ATM IV	31.6%	27.7%	34.4%	31.3%	29.8%
Expected Move	9.4%	8.1%	10.5%	9.0%	8.5%
HV 20d	31.3%	24.7%	41.0%	38.0%	25.2%
HV 60d	32.2%	30.9%	33.3%	31.7%	31.1%
IV Rank	16.5%	7.5%	22.8%	15.8%	12.2%
IV Percentile	11.2%	1.2%	28.2%	7.9%	4.4%
Term Structure	0.4%	-1.6%	3.4%	3.4%	1.3%
VWIV	32.1%	28.3%	35.0%	31.3%	28.3%
Skew 25d	6.6%	-5.9%	13.2%	9.8%	-5.9%
Skew 10d	8.5%	-6.9%	20.4%	16.7%	-6.9%
Call IV 25d	27.0%	22.9%	30.6%	30.4%	29.8%
Put IV 25d	33.6%	23.4%	40.1%	40.1%	23.9%
Bid-Ask Spread %	53.27	21.78	90.76	36.09	42.01
Gamma HHI	0.48	0.38	0.56	0.47	0.48
Net GEX	17.8K	10.1K	23.6K	14.5K	17.3K
Net DEX	-767.4K	-1.3M	-415.6K	-877.8K	-415.6K
Net VEX	-3.6K	-4.4K	-3.0K	-4.4K	-3.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.11	0.00	0.87	0.87	0.00
Total Volume	131.81	0	1,724	1,724	0
Total OI	4,584.952	3,276	5,772	5,652	3,276

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
2008-08-01	$6.28	$6.25	31.3%	9.0%	38.0%	15.8%	31.3%	9.8%	3.4%	14.5K	-877.8K	-4.4K	0.87	36.09	920	804	3,276	2,376
2008-08-04	$6.08	$5.63	31.6%	10.5%	39.9%	16.4%	0.0%	8.6%	-1.4%	10.1K	-574.2K	-4.3K	0.00	24.66	16	0	3,280	2,380
2008-08-05	$6.25	$5.63	32.9%	10.2%	41.0%	19.3%	0.0%	12.6%	-0.3%	16.4K	-874.7K	-4.1K	0.05	35.66	80	4	3,280	2,380
2008-08-06	$6.18	$5.63	32.1%	9.8%	38.2%	17.7%	0.0%	10.0%	-0.6%	16.6K	-789.6K	-4.2K	0.00	64.88	8	0	3,352	2,376
2008-08-07	$6.13	$5.63	33.3%	9.7%	35.4%	20.3%	0.0%	9.6%	-0.3%	15.4K	-694.2K	-4.1K	0.00	52.44	0	0	3,352	2,376
2008-08-08	$6.33	$5.63	29.1%	9.8%	36.7%	10.7%	32.6%	10.4%	-0.6%	22.0K	-1.0M	-3.9K	0.19	67.82	208	40	3,352	2,376
2008-08-11	$6.37	$5.63	32.2%	9.9%	36.2%	17.7%	0.0%	12.5%	-1.6%	14.9K	-1.0M	-3.8K	0.00	67.63	0	0	3,236	2,416
2008-08-12	$6.41	$5.63	32.0%	10.0%	35.8%	17.3%	35.0%	12.4%	-0.0%	14.8K	-1.1M	-3.7K	0.00	79.90	120	0	3,236	2,416
2008-08-13	$6.47	$5.63	27.7%	9.8%	31.8%	7.5%	0.0%	13.2%	-0.1%	18.4K	-1.3M	-3.6K	0.00	43.44	0	0	3,356	2,416
2008-08-14	$6.45	$5.63	33.5%	9.6%	31.7%	20.7%	0.0%	12.2%	0.5%	19.0K	-1.3M	-3.6K	0.00	49.71	0	0	3,356	2,416
2008-08-15	$6.41	$5.63	32.9%	9.4%	31.8%	19.4%	0.0%	8.4%	0.8%	19.3K	-1.3M	-3.6K	0.00	47.32	0	0	3,356	2,416
2008-08-18	$6.37	$5.63	34.1%	9.8%	29.4%	22.0%	34.0%	10.0%	-0.4%	21.0K	-643.8K	-3.4K	0.00	21.78	40	0	2,352	1,080
2008-08-19	$6.29	$5.63	34.4%	9.9%	26.6%	22.8%	0.0%	6.4%	-0.2%	22.0K	-623.8K	-3.4K	0.00	87.83	0	0	2,392	1,080
2008-08-20	$6.33	$5.63	31.4%	9.0%	26.6%	16.1%	31.4%	10.9%	1.4%	23.6K	-649.7K	-3.4K	0.00	23.35	328	0	2,392	1,080
2008-08-21	$6.21	$5.63	31.5%	9.0%	26.2%	16.2%	31.5%	-3.5%	1.1%	18.7K	-510.5K	-3.2K	0.00	80.65	0	40	2,216	1,080
2008-08-22	$6.23	$6.25	30.7%	8.8%	26.1%	14.4%	0.0%	-5.0%	1.4%	18.3K	-506.8K	-3.2K	0.00	58.63	0	0	2,216	1,120
2008-08-25	$6.16	$6.25	31.8%	9.1%	26.0%	16.8%	0.0%	3.4%	0.5%	18.0K	-464.9K	-3.2K	0.00	28.43	0	0	2,216	1,120
2008-08-26	$6.14	$6.25	32.3%	9.3%	24.9%	18.0%	32.3%	3.0%	-0.1%	18.0K	-458.8K	-3.1K	0.00	30.38	120	0	2,216	1,120
2008-08-27	$6.18	$6.25	31.7%	9.1%	24.7%	16.6%	0.0%	2.4%	0.3%	16.9K	-457.1K	-3.1K	0.00	85.39	0	0	2,156	1,120
2008-08-28	$6.27	$6.25	28.3%	8.1%	25.2%	8.9%	28.3%	-3.8%	3.3%	18.6K	-513.8K	-3.0K	0.00	90.76	40	0	2,156	1,120
2008-08-29	$6.13	$6.25	29.8%	8.5%	25.2%	12.2%	0.0%	-5.9%	1.3%	17.3K	-415.6K	-3.0K	0.00	42.01	0	0	2,156	1,120