MANH Options History — May 2011

In May 2011, MANH traded between $8.75 and $9.21. ATM implied volatility averaged 59.5%, placing in the 43.6% IV rank vs the trailing year. The 30-day expected move averaged 16.8%. IV traded above realized volatility by 33.1% (HV 20d: 26.4%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days.

Notable Days

  • 2011-05-31: Highest Volume — 40 contracts
  • 2011-05-10: Largest IV spike — 83.9% change
  • 2011-05-04: Highest IV Rank — 62.2%
  • 2011-05-04: Largest Expected Move — 22.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.95$8.75$9.21$9.01$8.99
Max Pain$7.50$7.50$7.50$7.50$7.50
ATM IV59.5%33.7%77.6%59.3%76.3%
Expected Move16.8%12.4%22.3%17.0%21.9%
HV 20d26.4%17.9%35.2%33.0%18.5%
HV 60d27.1%26.2%27.9%27.2%26.3%
IV Rank43.6%17.2%62.2%43.4%60.8%
IV Percentile77.3%41.7%94.8%80.6%92.9%
Term Structure-13.2%-28.3%10.7%-12.6%-26.6%
VWIV59.2%59.2%59.2%59.2%59.2%
Skew 25d3.3%-27.8%54.1%3.4%-27.8%
Skew 10d13.9%-34.3%61.6%12.6%2.2%
Call IV 25d74.5%27.8%104.2%63.3%102.4%
Put IV 25d77.8%50.1%110.9%66.6%74.7%
Bid-Ask Spread %131.27123.22134.10131.53132.64
Gamma HHI0.370.280.550.320.41
Net GEX4.7K2.0K9.7K3.7K5.4K
Net DEX-187.0K-232.9K-147.0K-187.5K-189.6K
Net VEX-966-1.3K-709-1.1K-733
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume2.286040040
Total OI1,243.4291,2121,2561,2561,212

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2011-05-02$9.01$7.5059.3%17.0%33.0%43.4%0.0%3.4%-12.6%3.7K-187.5K-1.1K0.00131.5300432824
2011-05-03$8.96$7.5075.0%21.5%33.2%59.5%59.2%8.3%-25.6%3.9K-186.5K-1.2K0.00131.7908432824
2011-05-04$8.87$7.5077.6%22.3%33.5%62.2%0.0%6.7%-28.3%3.0K-172.3K-1.2K0.00130.6500432824
2011-05-05$8.78$7.5055.6%15.9%33.7%39.6%0.0%3.7%-4.1%3.1K-153.6K-1.2K0.00129.2200432824
2011-05-06$8.84$0.0033.7%13.7%33.7%17.2%0.0%3.6%-5.2%3.5K-147.0K-1.3K0.00123.2200432824
2011-05-09$9.08$0.0036.7%12.4%34.8%20.3%0.0%10.0%-5.8%5.0K-206.7K-9080.00127.6900432824
2011-05-10$9.19$0.0067.5%14.6%34.8%51.8%0.0%3.3%-0.7%5.1K-216.0K-9180.00132.0800432824
2011-05-11$9.11$0.0070.1%13.0%35.1%54.4%0.0%6.1%0.6%4.5K-194.2K-1.1K0.00129.5200432824
2011-05-12$9.21$0.0046.5%13.3%35.2%30.3%0.0%3.5%10.7%5.5K-230.4K-8410.00129.7800432824
2011-05-13$9.12$0.0054.5%15.6%35.1%38.5%0.0%-21.6%-12.9%6.0K-232.9K-8750.00128.0600432824
2011-05-16$8.94$0.0055.5%15.9%22.8%39.5%0.0%3.4%-10.8%4.6K-198.3K-9490.00132.3500432824
2011-05-17$8.90$0.0065.1%18.7%19.7%49.4%0.0%3.8%-20.4%6.7K-188.5K-9070.00128.9800432824
2011-05-18$8.99$0.0057.0%16.3%20.1%41.0%0.0%3.6%-10.8%5.3K-209.8K-9120.00133.7800432824
2011-05-19$8.97$0.0058.0%16.6%20.1%42.1%0.0%3.7%-12.1%6.8K-209.0K-9270.00133.4100432824
2011-05-20$8.89$0.0059.6%17.1%19.9%43.7%0.0%54.1%-15.5%9.7K-205.7K-8480.00132.7700432824
2011-05-23$8.77$0.0063.3%18.1%18.1%47.5%0.0%4.0%-19.2%2.9K-149.9K-9040.00133.9200388824
2011-05-24$8.75$0.0064.6%18.5%18.1%48.8%0.0%4.6%-21.2%3.0K-150.2K-9530.00133.7800388824
2011-05-25$8.84$0.0052.2%15.0%18.4%36.1%0.0%-5.2%-14.2%2.0K-148.4K-8700.00133.9500388824
2011-05-26$8.85$0.0052.5%15.1%18.3%36.5%0.0%-4.3%-19.2%3.4K-159.0K-9220.00134.1000388824
2011-05-27$8.88$0.0068.5%19.6%17.9%52.8%0.0%2.6%-22.6%5.5K-192.0K-7090.00133.4200388824
2011-05-31$8.99$0.0076.3%21.9%18.5%60.8%0.0%-27.8%-26.6%5.4K-189.6K-7330.00132.64040388824