MANH Options History — November 2010

In November 2010, MANH traded between $7.55 and $7.95. ATM implied volatility averaged 41.4%, placing in the 46.3% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 20.7% (HV 20d: 20.7%). Max pain ranged from $6.25 to $7.50. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 5.01.

Notable Days

2010-11-24: Highest Volume — 424 contracts
2010-11-17: Largest IV spike — 80.2% change
2010-11-29: Highest IV Rank — 86.1%
2010-11-29: Largest Expected Move — 17.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.76	$7.55	$7.95	$7.62	$7.77
Max Pain	$7.26	$6.25	$7.50	$7.50	$7.50
ATM IV	41.4%	27.4%	62.6%	36.9%	50.7%
Expected Move	11.9%	7.9%	17.9%	10.6%	14.5%
HV 20d	20.7%	18.0%	27.9%	27.9%	19.0%
HV 60d	28.2%	26.0%	29.6%	29.4%	26.0%
IV Rank	46.3%	19.8%	86.1%	37.7%	63.7%
IV Percentile	81.3%	31.0%	99.2%	85.7%	95.6%
Term Structure	-6.5%	-42.2%	21.7%	13.9%	-14.0%
VWIV	37.1%	37.0%	37.1%	37.0%	37.1%
Skew 25d	4.5%	-51.6%	41.2%	2.7%	7.6%
Skew 10d	12.1%	-8.7%	44.5%	11.9%	23.8%
Call IV 25d	41.1%	19.8%	91.9%	45.0%	49.0%
Put IV 25d	45.5%	25.2%	69.2%	47.7%	56.6%
Bid-Ask Spread %	136.24	114.00	148.92	118.93	147.36
Gamma HHI	0.57	0.22	0.83	0.63	0.58
Net GEX	3.1K	-9.3K	24.6K	7.3K	-9.2K
Net DEX	-341.2K	-691.5K	-103.8K	-280.5K	-103.8K
Net VEX	-2.3K	-3.0K	-1.3K	-2.8K	-1.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	5.01	0.00	22.00	22.00	0.74
Total Volume	64.19	0	424	92	368
Total OI	3,039.429	1,728	3,508	3,380	1,768

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
2010-11-01	$7.62	$7.50	36.9%	10.6%	27.9%	37.7%	37.0%	2.7%	13.9%	7.3K	-280.5K	-2.8K	22.00	118.93	4	88	1,632	1,748
2010-11-02	$7.78	$7.50	29.3%	8.4%	25.8%	23.4%	0.0%	-2.4%	21.1%	9.2K	-434.4K	-2.7K	0.00	124.64	4	0	1,632	1,816
2010-11-03	$7.70	$7.50	41.1%	11.8%	21.0%	45.6%	0.0%	-0.1%	9.0%	4.6K	-332.6K	-3.0K	0.00	148.92	0	0	1,632	1,816
2010-11-04	$7.81	$7.50	36.6%	10.5%	21.2%	37.2%	0.0%	9.4%	-12.0%	5.0K	-481.9K	-2.7K	0.00	114.00	0	0	1,632	1,816
2010-11-05	$7.75	$6.25	38.4%	16.2%	21.4%	40.5%	0.0%	12.9%	-11.2%	6.8K	-455.9K	-2.8K	0.00	144.88	0	0	1,632	1,816
2010-11-08	$7.80	$6.25	32.8%	9.6%	21.4%	30.0%	0.0%	13.2%	-1.2%	5.8K	-463.7K	-2.5K	0.00	127.68	0	0	1,632	1,816
2010-11-09	$7.70	$6.25	50.8%	8.5%	22.1%	63.8%	0.0%	1.6%	2.5%	9.5K	-409.3K	-2.6K	0.00	146.07	0	0	1,632	1,816
2010-11-10	$7.76	$6.25	35.7%	10.7%	21.4%	35.4%	37.1%	-1.6%	4.7%	8.3K	-422.5K	-2.6K	0.00	142.18	0	80	1,632	1,816
2010-11-11	$7.63	$7.50	31.3%	9.0%	22.5%	27.1%	0.0%	6.6%	2.0%	8.7K	-312.5K	-2.6K	0.00	131.00	0	0	1,632	1,856
2010-11-12	$7.62	$7.50	34.2%	9.8%	22.5%	32.6%	0.0%	-5.0%	7.3%	9.0K	-277.0K	-2.6K	0.00	143.32	0	0	1,632	1,856
2010-11-15	$7.69	$7.50	54.5%	15.6%	22.7%	70.9%	0.0%	41.2%	1.9%	12.3K	-318.0K	-2.5K	0.00	145.20	40	0	1,632	1,856
2010-11-16	$7.55	$7.50	28.1%	8.1%	18.8%	21.1%	0.0%	26.0%	21.7%	1.0K	-193.3K	-2.5K	0.00	133.70	0	0	1,612	1,856
2010-11-17	$7.67	$7.50	50.6%	14.5%	18.0%	63.6%	0.0%	0.3%	-17.5%	24.6K	-461.8K	-2.3K	0.00	135.24	0	40	1,612	1,856
2010-11-18	$7.78	$7.50	46.1%	13.2%	18.5%	55.1%	0.0%	-7.4%	-18.9%	2.4K	-656.3K	-2.0K	0.00	141.56	0	0	1,612	1,896
2010-11-19	$7.85	$7.50	27.4%	7.9%	18.5%	19.8%	0.0%	8.0%	7.1%	-1.3K	-691.5K	-1.8K	0.00	122.44	0	0	1,612	1,896
2010-11-22	$7.84	$7.50	45.7%	13.1%	18.6%	54.4%	0.0%	17.5%	-21.4%	-5.8K	-157.1K	-1.7K	2.30	131.74	40	92	868	1,104
2010-11-23	$7.84	$7.50	50.8%	14.6%	18.4%	63.9%	0.0%	0.5%	-20.1%	-6.8K	-170.6K	-1.8K	0.00	138.94	0	0	908	1,192
2010-11-24	$7.93	$7.50	42.8%	12.3%	18.3%	48.9%	0.0%	-51.6%	-36.2%	-7.8K	-228.3K	-1.7K	0.74	143.97	244	180	908	1,192
2010-11-26	$7.95	$7.50	43.7%	12.5%	18.1%	50.6%	0.0%	0.7%	-33.5%	-8.6K	-193.7K	-1.9K	0.00	140.38	0	128	944	1,284
2010-11-29	$7.81	$7.50	62.6%	17.9%	19.2%	86.1%	0.0%	13.7%	-42.2%	-9.3K	-120.0K	-1.3K	0.00	139.01	0	40	668	1,060
2010-11-30	$7.77	$7.50	50.7%	14.5%	19.0%	63.7%	0.0%	7.6%	-14.0%	-9.2K	-103.8K	-1.4K	0.00	147.36	0	368	668	1,100