MANH Options History — February 2010

In February 2010, MANH traded between $5.41 and $6.43. ATM implied volatility averaged 33.4%, placing in the 24.0% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 1.9% (HV 20d: 31.5%). Max pain ranged from $4.38 to $5.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.12.

Notable Days

2010-02-05: Highest Volume — 112 contracts
2010-02-25: Largest IV spike — 118.2% change
2010-02-25: Highest IV Rank — 81.2%
2010-02-25: Largest Expected Move — 19.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.94	$5.41	$6.43	$5.41	$6.32
Max Pain	$4.89	$4.38	$5.00	$5.00	$5.00
ATM IV	33.4%	22.7%	67.3%	40.6%	26.3%
Expected Move	9.8%	7.2%	19.3%	11.6%	7.5%
HV 20d	31.5%	21.9%	35.3%	34.2%	21.9%
HV 60d	28.2%	27.1%	28.8%	27.8%	27.1%
IV Rank	24.0%	5.9%	81.2%	36.1%	12.0%
IV Percentile	46.6%	4.0%	99.6%	78.2%	13.1%
Term Structure	-0.1%	-37.5%	12.0%	-4.9%	2.2%
VWIV	45.5%	35.5%	65.4%	42.3%	65.4%
Skew 25d	2.3%	-5.0%	10.3%	10.3%	-4.4%
Skew 10d	3.2%	-6.5%	18.5%	18.5%	-2.2%
Call IV 25d	31.0%	25.3%	37.6%	36.2%	36.7%
Put IV 25d	33.3%	23.7%	46.4%	46.4%	32.3%
Bid-Ask Spread %	128.08	85.71	167.77	87.18	149.48
Gamma HHI	0.88	0.80	0.93	0.80	0.87
Net GEX	26.2K	13.6K	36.4K	13.6K	36.4K
Net DEX	-392.7K	-704.2K	-101.3K	-101.3K	-649.3K
Net VEX	-1.8K	-2.0K	-1.6K	-1.6K	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.12	0.00	0.58	0.22	0.00
Total Volume	23.368	0	112	0	0
Total OI	2,190.947	2,164	2,244	2,204	2,204

Daily Data (19 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
2010-02-01	$5.41	$0.00	40.6%	11.6%	34.2%	36.1%	0.0%	10.3%	-4.9%	13.6K	-101.3K	-1.6K	0.00	87.18	0	0	1,896	308
2010-02-02	$5.41	$0.00	41.0%	11.7%	31.5%	36.8%	42.3%	9.9%	-4.0%	14.6K	-127.9K	-1.6K	0.22	91.14	36	8	1,896	268
2010-02-03	$5.56	$5.00	30.4%	8.7%	33.5%	19.0%	0.0%	-2.0%	1.7%	17.9K	-166.7K	-1.7K	0.58	108.19	48	28	1,912	276
2010-02-04	$5.58	$5.00	33.0%	9.5%	33.4%	23.3%	0.0%	0.7%	1.6%	18.9K	-185.8K	-1.8K	0.00	134.38	40	0	1,940	304
2010-02-05	$5.67	$4.38	32.5%	9.2%	33.8%	22.6%	0.0%	4.8%	1.9%	21.8K	-244.7K	-1.9K	0.00	106.27	112	0	1,940	304
2010-02-08	$5.67	$4.38	31.0%	9.6%	33.9%	19.9%	0.0%	5.9%	0.8%	21.6K	-215.1K	-1.8K	0.00	85.71	0	0	1,936	304
2010-02-09	$5.71	$4.38	27.1%	10.1%	33.2%	13.4%	35.5%	8.1%	-0.9%	23.3K	-248.9K	-1.9K	0.00	134.14	0	48	1,936	304
2010-02-10	$5.72	$5.00	22.7%	8.7%	33.2%	5.9%	0.0%	2.6%	1.3%	23.6K	-234.1K	-1.7K	0.00	149.36	0	0	1,936	264
2010-02-11	$5.75	$5.00	31.6%	9.1%	33.2%	21.0%	0.0%	5.8%	2.9%	23.6K	-256.5K	-1.7K	0.00	98.88	0	0	1,904	264
2010-02-12	$5.92	$5.00	33.1%	9.5%	34.7%	23.6%	39.0%	3.7%	-6.9%	26.8K	-330.6K	-1.8K	0.00	167.77	24	0	1,904	264
2010-02-16	$6.11	$5.00	32.8%	9.4%	35.3%	22.9%	0.0%	-0.7%	6.4%	31.3K	-505.0K	-2.0K	0.00	164.77	20	0	1,928	264
2010-02-17	$6.11	$5.00	35.5%	10.2%	34.0%	27.5%	0.0%	-0.7%	9.5%	28.0K	-542.9K	-2.0K	0.00	165.13	0	0	1,908	264
2010-02-18	$6.17	$5.00	37.4%	10.7%	32.3%	30.7%	65.4%	0.1%	12.0%	27.3K	-527.6K	-2.0K	0.00	165.04	40	0	1,908	264
2010-02-19	$6.22	$5.00	27.4%	7.8%	32.3%	13.8%	0.0%	-4.2%	3.8%	32.8K	-544.6K	-2.0K	0.00	114.25	0	0	1,908	264
2010-02-22	$6.32	$5.00	25.2%	7.2%	28.2%	10.1%	0.0%	9.0%	6.6%	34.0K	-599.4K	-1.9K	0.00	123.80	0	0	1,908	256
2010-02-23	$6.38	$5.00	28.8%	8.3%	26.2%	16.3%	0.0%	-3.9%	3.1%	33.4K	-662.1K	-1.9K	0.00	111.73	0	0	1,908	256
2010-02-24	$6.43	$5.00	30.8%	8.8%	26.1%	19.7%	0.0%	-5.0%	-2.3%	33.9K	-704.2K	-1.9K	0.00	131.47	0	0	1,908	256
2010-02-25	$6.32	$5.00	67.3%	19.3%	27.1%	81.2%	0.0%	4.3%	-37.5%	35.0K	-614.5K	-1.9K	0.00	144.83	0	40	1,908	256
2010-02-26	$6.32	$5.00	26.3%	7.5%	21.9%	12.0%	0.0%	-4.4%	2.2%	36.4K	-649.3K	-1.9K	0.00	149.48	0	0	1,908	296