MANH Options History — September 2010

In September 2010, MANH traded between $6.79 and $7.43. ATM implied volatility averaged 28.5%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 3.4% (HV 20d: 31.9%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.26.

Notable Days

2010-09-28: Highest Volume — 328 contracts
2010-09-09: Largest IV spike — 48.6% change
2010-09-21: Highest IV Rank — 45.9%
2010-09-21: Largest Expected Move — 11.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.15	$6.79	$7.43	$6.79	$7.34
Max Pain	$7.50	$7.50	$7.50	$7.50	$7.50
ATM IV	28.5%	16.9%	41.3%	19.8%	27.1%
Expected Move	8.7%	5.7%	11.8%	5.7%	7.8%
HV 20d	31.9%	29.1%	35.1%	31.4%	29.1%
HV 60d	31.5%	30.7%	32.3%	30.9%	31.4%
IV Rank	21.6%	0.0%	45.9%	2.6%	19.2%
IV Percentile	42.9%	0.0%	94.4%	2.0%	29.0%
Term Structure	5.0%	-5.7%	21.3%	16.7%	5.4%
VWIV	30.1%	22.6%	34.0%	30.8%	28.7%
Skew 25d	8.6%	-7.2%	41.8%	0.8%	0.8%
Skew 10d	12.7%	-10.2%	58.2%	0.2%	1.4%
Call IV 25d	30.9%	19.7%	38.1%	19.9%	31.4%
Put IV 25d	39.5%	20.7%	71.5%	20.7%	32.1%
Bid-Ask Spread %	85.41	11.40	135.07	34.03	121.76
Gamma HHI	0.54	0.37	0.83	0.40	0.82
Net GEX	16.0K	-6.8K	46.1K	-6.8K	46.1K
Net DEX	42.7K	-281.1K	376.1K	376.1K	-281.1K
Net VEX	-3.7K	-4.0K	-3.3K	-4.0K	-3.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.26	0.00	1.48	0.00	0.00
Total Volume	70.095	0	328	0	40
Total OI	5,758.095	5,404	6,104	5,720	6,104

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
2010-09-01	$6.79	$7.50	19.8%	5.7%	31.4%	2.6%	0.0%	0.8%	16.7%	-6.8K	376.1K	-4.0K	0.00	34.03	0	0	3,016	2,704
2010-09-02	$6.86	$7.50	21.2%	6.1%	30.3%	5.2%	0.0%	1.8%	1.7%	-3.4K	317.7K	-4.0K	0.00	11.40	0	0	3,016	2,704
2010-09-03	$7.01	$7.50	16.9%	8.3%	30.8%	0.0%	30.8%	3.5%	2.6%	2.7K	205.9K	-3.9K	0.00	37.63	40	0	3,016	2,704
2010-09-07	$6.83	$7.50	23.9%	10.3%	32.3%	13.1%	0.0%	1.8%	2.6%	-3.9K	313.1K	-3.9K	0.00	15.14	0	0	3,056	2,704
2010-09-08	$6.92	$7.50	21.0%	9.5%	31.8%	7.7%	0.0%	3.2%	1.9%	308	256.9K	-3.9K	0.00	14.42	0	40	3,056	2,704
2010-09-09	$6.90	$7.50	31.1%	8.9%	29.2%	26.9%	0.0%	1.4%	2.0%	-1.6K	288.6K	-3.8K	0.00	34.41	0	0	3,056	2,744
2010-09-10	$6.85	$7.50	35.9%	10.3%	29.5%	35.8%	0.0%	3.4%	2.1%	-3.9K	326.2K	-3.7K	0.00	17.16	0	0	3,056	2,744
2010-09-13	$7.17	$7.50	32.7%	9.4%	32.9%	29.7%	0.0%	4.4%	-0.6%	14.0K	62.4K	-3.5K	0.00	92.75	0	8	3,056	2,744
2010-09-14	$7.13	$7.50	31.4%	9.0%	33.1%	27.4%	33.7%	-4.5%	2.6%	14.6K	63.5K	-3.9K	0.00	114.50	40	0	3,056	2,752
2010-09-15	$7.13	$7.50	30.0%	8.6%	32.1%	24.8%	0.0%	2.6%	2.9%	16.1K	68.5K	-3.9K	0.00	103.92	0	40	3,096	2,752
2010-09-16	$7.12	$7.50	30.0%	8.6%	32.2%	24.7%	30.6%	-7.2%	3.9%	15.6K	88.2K	-3.7K	0.00	108.27	40	0	3,096	2,752
2010-09-17	$7.21	$7.50	34.7%	9.9%	31.6%	33.5%	0.0%	-0.7%	-2.4%	24.4K	-106.9K	-3.9K	0.00	121.08	132	0	3,136	2,752
2010-09-20	$7.41	$7.50	28.6%	8.2%	32.4%	22.2%	0.0%	-2.5%	19.1%	22.6K	-167.6K	-3.6K	0.91	135.07	44	40	2,800	2,604
2010-09-21	$7.33	$7.50	41.3%	11.8%	32.6%	45.9%	0.0%	32.2%	-5.7%	20.5K	-94.4K	-3.5K	0.00	117.41	0	0	2,844	2,644
2010-09-22	$7.34	$7.50	32.7%	9.4%	32.5%	29.8%	34.0%	31.0%	-0.5%	21.4K	-101.9K	-3.4K	0.48	117.22	84	40	2,844	2,644
2010-09-23	$7.16	$7.50	24.6%	7.0%	34.2%	14.5%	22.6%	-0.9%	21.3%	28.8K	-47.6K	-3.3K	1.48	117.69	124	184	2,928	2,644
2010-09-24	$7.43	$7.50	29.3%	8.4%	35.1%	23.3%	0.0%	34.6%	8.2%	27.5K	-199.9K	-3.7K	0.00	122.55	0	0	2,928	2,828
2010-09-27	$7.39	$7.50	29.9%	8.6%	33.0%	24.5%	31.7%	33.2%	2.6%	27.1K	-155.2K	-3.5K	0.00	117.68	208	0	2,928	2,828
2010-09-28	$7.37	$7.50	28.9%	8.3%	31.8%	22.6%	29.1%	0.0%	10.0%	29.7K	-108.8K	-3.4K	0.00	121.09	328	0	2,988	2,828
2010-09-29	$7.38	$7.50	27.7%	7.9%	31.7%	20.3%	0.0%	41.8%	8.1%	44.8K	-207.3K	-3.6K	0.00	118.51	40	0	3,236	2,828
2010-09-30	$7.34	$7.50	27.1%	7.8%	29.1%	19.2%	28.7%	0.8%	5.4%	46.1K	-281.1K	-3.6K	0.00	121.76	40	0	3,276	2,828