MANH Options History — October 2010

In October 2010, MANH traded between $7.14 and $7.70. ATM implied volatility averaged 30.1%, placing in the 24.8% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded below realized volatility by 1.6% (HV 20d: 31.6%). Max pain ranged from $6.25 to $7.50. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.77.

Notable Days

2010-10-15: Highest Volume — 720 contracts
2010-10-07: Largest IV spike — 75.0% change
2010-10-29: Highest IV Rank — 55.9%
2010-10-29: Largest Expected Move — 13.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.42	$7.14	$7.70	$7.40	$7.70
Max Pain	$7.44	$6.25	$7.50	$7.50	$7.50
ATM IV	30.1%	18.2%	46.5%	33.7%	46.5%
Expected Move	9.9%	7.9%	13.3%	9.7%	13.3%
HV 20d	31.6%	29.0%	35.1%	29.0%	30.2%
HV 60d	31.2%	29.0%	33.5%	31.3%	29.4%
IV Rank	24.8%	2.4%	55.9%	31.7%	55.9%
IV Percentile	50.2%	0.4%	96.4%	76.2%	96.4%
Term Structure	3.2%	-10.9%	16.3%	9.0%	11.7%
VWIV	33.9%	26.2%	39.3%	26.2%	29.7%
Skew 25d	4.5%	-26.4%	16.6%	10.2%	16.6%
Skew 10d	5.3%	-50.8%	20.9%	6.5%	19.1%
Call IV 25d	32.7%	25.7%	66.6%	29.4%	42.6%
Put IV 25d	37.2%	27.5%	59.2%	39.6%	59.2%
Bid-Ask Spread %	109.34	57.46	132.66	127.14	130.18
Gamma HHI	0.70	0.25	0.99	0.83	0.55
Net GEX	41.5K	-724	210.9K	51.1K	7.0K
Net DEX	-136.5K	-501.9K	168.6K	-294.8K	-295.3K
Net VEX	-3.1K	-3.5K	-2.9K	-3.5K	-3.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.77	0.00	20.00	0.00	0.00
Total Volume	131.619	0	720	80	0
Total OI	4,853.905	2,952	6,560	6,104	3,380

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
2010-10-01	$7.40	$7.50	33.7%	9.7%	29.0%	31.7%	26.2%	10.2%	9.0%	51.1K	-294.8K	-3.5K	0.00	127.14	80	0	3,276	2,828
2010-10-04	$7.17	$6.25	19.7%	11.2%	30.8%	5.3%	39.0%	6.6%	3.5%	36.6K	152.0K	-3.0K	0.00	91.77	0	52	3,316	2,828
2010-10-05	$7.43	$7.50	30.6%	10.5%	31.5%	25.8%	36.6%	10.3%	-2.6%	54.4K	-260.0K	-3.4K	0.00	73.19	704	0	3,316	2,872
2010-10-06	$7.14	$7.50	18.2%	10.3%	35.0%	2.4%	35.6%	13.4%	-5.3%	32.5K	168.6K	-2.9K	0.00	99.99	0	8	3,616	2,872
2010-10-07	$7.22	$7.50	31.8%	9.3%	35.1%	28.1%	32.4%	11.0%	3.3%	51.1K	2.0K	-3.3K	0.00	57.46	244	0	3,616	2,880
2010-10-08	$7.30	$7.50	21.5%	8.6%	35.1%	8.7%	0.0%	13.0%	1.6%	66.2K	10.2K	-3.1K	0.26	103.00	172	44	3,540	2,880
2010-10-11	$7.29	$7.50	18.7%	12.7%	31.3%	3.4%	0.0%	10.9%	-8.7%	56.7K	62.6K	-3.0K	0.00	115.42	0	0	3,664	2,896
2010-10-12	$7.30	$7.50	21.5%	9.3%	31.2%	8.6%	0.0%	6.5%	-0.7%	65.9K	46.8K	-2.9K	0.00	103.10	148	0	3,664	2,896
2010-10-13	$7.44	$7.50	29.7%	10.1%	31.9%	24.1%	35.3%	0.8%	0.5%	91.3K	-331.8K	-3.1K	0.00	112.28	60	0	3,516	2,896
2010-10-14	$7.48	$7.50	34.1%	9.8%	31.8%	32.5%	0.0%	-0.8%	7.5%	210.9K	-387.2K	-3.1K	0.00	114.76	0	0	3,536	2,896
2010-10-15	$7.49	$7.50	35.9%	10.3%	31.5%	35.8%	35.9%	-6.0%	5.6%	111.6K	-501.9K	-3.0K	1.57	113.13	280	440	3,536	2,896
2010-10-18	$7.50	$7.50	38.4%	11.0%	30.2%	40.5%	38.0%	-1.7%	-10.9%	-724	-94.4K	-3.1K	0.00	115.89	52	0	1,412	1,540
2010-10-19	$7.22	$7.50	39.0%	11.2%	32.9%	41.6%	39.3%	-26.4%	16.3%	-202	40.6K	-3.1K	0.18	122.19	44	8	1,424	1,540
2010-10-20	$7.38	$7.50	27.6%	7.9%	33.9%	20.1%	0.0%	3.3%	9.3%	978	-1.8K	-2.9K	0.00	132.66	0	0	1,464	1,548
2010-10-21	$7.42	$7.50	30.0%	8.6%	32.6%	24.7%	30.0%	2.2%	5.1%	3.1K	-48.5K	-3.0K	20.00	114.66	4	80	1,464	1,548
2010-10-22	$7.49	$7.50	30.3%	8.7%	29.9%	25.2%	0.0%	7.5%	4.3%	3.7K	-99.2K	-3.0K	1.82	115.00	44	80	1,468	1,628
2010-10-25	$7.51	$7.50	32.0%	9.2%	29.9%	28.5%	32.0%	-5.6%	-0.6%	2.9K	-148.0K	-3.1K	0.00	113.56	100	0	1,512	1,708
2010-10-26	$7.58	$7.50	30.3%	8.7%	30.0%	25.2%	30.3%	7.7%	3.7%	7.8K	-211.5K	-3.2K	1.00	110.16	40	40	1,592	1,708
2010-10-27	$7.69	$7.50	31.6%	9.1%	30.3%	27.7%	29.7%	9.1%	0.7%	9.3K	-318.6K	-3.0K	0.00	109.09	40	0	1,632	1,748
2010-10-28	$7.65	$7.50	30.4%	8.7%	30.2%	25.5%	0.0%	5.9%	14.9%	8.4K	-356.6K	-3.0K	0.00	121.54	0	0	1,632	1,748
2010-10-29	$7.70	$7.50	46.5%	13.3%	30.2%	55.9%	0.0%	16.6%	11.7%	7.0K	-295.3K	-3.3K	0.00	130.18	0	0	1,632	1,748