MANH Options History — April 2010

In April 2010, MANH traded between $6.40 and $7.71. ATM implied volatility averaged 30.8%, placing in the 20.6% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 0.7% (HV 20d: 31.5%). Max pain ranged from $5.63 to $7.50. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.67.

Notable Days

2010-04-21: Highest Volume — 840 contracts
2010-04-14: Largest IV spike — 53.2% change
2010-04-14: Highest IV Rank — 59.1%
2010-04-28: Largest Expected Move — 10.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.97	$6.40	$7.71	$6.40	$7.17
Max Pain	$7.27	$5.63	$7.50	$5.63	$7.50
ATM IV	30.8%	18.5%	53.9%	18.5%	24.9%
Expected Move	8.7%	5.3%	10.6%	5.3%	7.1%
HV 20d	31.5%	20.6%	47.3%	22.2%	47.3%
HV 60d	28.6%	24.3%	33.5%	26.4%	31.9%
IV Rank	20.6%	0.0%	59.1%	0.0%	10.7%
IV Percentile	50.7%	0.4%	98.4%	0.4%	15.1%
Term Structure	-0.4%	-26.6%	12.8%	12.8%	2.0%
VWIV	30.2%	27.9%	32.4%	32.4%	27.9%
Skew 25d	5.8%	-6.0%	16.4%	-6.0%	-0.4%
Skew 10d	6.3%	-0.6%	43.4%	43.4%	-0.6%
Call IV 25d	25.2%	18.6%	43.6%	30.5%	28.8%
Put IV 25d	31.0%	23.1%	41.9%	24.5%	28.5%
Bid-Ask Spread %	108.27	70.99	141.65	114.09	108.58
Gamma HHI	0.53	0.34	0.97	0.97	0.36
Net GEX	16.4K	-4.0K	136.0K	136.0K	-3.8K
Net DEX	-574.7K	-1.1M	4.5K	-790.5K	1.4K
Net VEX	-1.6K	-3.7K	-570	-1.2K	-3.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.00	2.00	0.00	0.25
Total Volume	122.095	0	840	0	40
Total OI	2,266.476	944	2,696	2,416	2,688

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
2010-04-01	$6.40	$5.63	18.5%	5.3%	22.2%	0.0%	0.0%	-6.0%	12.8%	136.0K	-790.5K	-1.2K	0.00	114.09	0	0	1,996	420
2010-04-05	$6.60	$0.00	21.0%	9.1%	20.6%	4.2%	0.0%	8.4%	-0.2%	38.6K	-1.0M	-702	0.00	99.29	0	0	1,996	420
2010-04-06	$6.67	$0.00	30.0%	8.8%	20.9%	19.3%	0.0%	12.6%	1.6%	37.0K	-1.0M	-843	0.00	100.37	0	0	1,996	420
2010-04-07	$6.54	$0.00	25.5%	9.4%	21.5%	11.6%	0.0%	10.9%	-0.1%	55.0K	-960.4K	-934	0.00	70.99	0	80	1,996	420
2010-04-08	$6.55	$0.00	25.2%	9.8%	21.4%	11.1%	0.0%	6.3%	-1.3%	50.9K	-988.5K	-778	0.00	99.74	0	8	1,996	420
2010-04-09	$6.72	$0.00	26.1%	8.1%	23.3%	12.7%	0.0%	13.9%	7.8%	14.4K	-1.1M	-570	0.00	100.18	92	0	1,996	508
2010-04-12	$6.72	$0.00	31.2%	8.5%	22.9%	21.2%	0.0%	10.5%	2.6%	8.3K	-1.1M	-638	0.77	76.75	52	40	1,916	508
2010-04-13	$6.75	$0.00	35.2%	9.0%	22.9%	27.9%	0.0%	4.5%	3.8%	5.7K	-1.1M	-718	1.00	108.05	40	40	1,944	548
2010-04-14	$6.88	$0.00	53.9%	6.1%	23.3%	59.1%	0.0%	4.7%	9.8%	5.1K	-1.1M	-827	0.00	114.68	20	0	1,984	588
2010-04-15	$6.86	$0.00	31.7%	9.1%	23.3%	22.1%	0.0%	14.2%	5.8%	11.4K	-1.1M	-921	2.00	109.54	40	80	1,972	588
2010-04-16	$6.82	$0.00	34.4%	9.9%	23.4%	26.5%	0.0%	12.0%	-4.9%	-830	-1.1M	-1.0K	0.00	126.86	0	40	2,012	668
2010-04-19	$6.72	$0.00	31.6%	9.1%	23.0%	21.9%	0.0%	10.3%	-4.6%	-1.0K	-24.2K	-1.1K	0.00	122.68	0	80	352	592
2010-04-20	$6.83	$0.00	35.5%	10.2%	22.9%	28.4%	0.0%	5.0%	-26.6%	-2.5K	-9.9K	-1.2K	0.00	141.65	40	0	352	672
2010-04-21	$7.61	$0.00	32.4%	9.3%	44.5%	23.3%	32.4%	16.4%	-6.4%	2.1K	-141.1K	-1.0K	0.54	91.26	544	296	392	672
2010-04-22	$7.71	$7.50	31.1%	8.9%	43.7%	21.0%	30.9%	-3.5%	-0.2%	1.1K	-232.5K	-2.3K	0.82	121.15	160	132	876	952
2010-04-23	$7.36	$7.50	30.6%	8.8%	47.3%	20.3%	30.6%	-0.5%	-1.4%	-987	-125.5K	-2.5K	1.93	122.08	220	424	960	1,044
2010-04-26	$7.38	$7.50	30.7%	8.8%	46.9%	20.4%	30.7%	-0.4%	0.1%	-4.0K	-46.3K	-3.4K	0.10	99.37	80	8	1,180	1,468
2010-04-27	$7.45	$7.50	32.2%	9.2%	46.4%	22.8%	0.0%	1.6%	-0.9%	-3.1K	-102.1K	-3.7K	0.00	116.29	0	0	1,220	1,476
2010-04-28	$7.33	$7.50	36.9%	10.6%	47.1%	30.8%	0.0%	-0.7%	-9.7%	-2.2K	-49.2K	-3.5K	0.00	124.17	0	4	1,220	1,476
2010-04-29	$7.26	$7.50	28.6%	8.2%	46.7%	16.9%	28.5%	0.9%	0.9%	-3.5K	4.5K	-3.4K	0.00	105.85	0	4	1,220	1,472
2010-04-30	$7.17	$7.50	24.9%	7.1%	47.3%	10.7%	27.9%	-0.4%	2.0%	-3.8K	1.4K	-3.4K	0.25	108.58	32	8	1,220	1,468