MANH Options History — June 2011

In June 2011, MANH traded between $8.27 and $8.73. ATM implied volatility averaged 59.8%, placing in the 43.9% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded above realized volatility by 39.5% (HV 20d: 20.3%). Max pain ranged from $7.50 to $8.75. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.10.

Notable Days

2011-06-24: Highest Volume — 268 contracts
2011-06-08: Largest IV spike — 65.5% change
2011-06-06: Highest IV Rank — 82.2%
2011-06-02: Largest Expected Move — 23.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$8.49	$8.27	$8.73	$8.72	$8.61
Max Pain	$7.88	$7.50	$8.75	$7.50	$8.75
ATM IV	59.8%	39.0%	97.2%	80.4%	41.8%
Expected Move	15.9%	11.0%	23.3%	23.1%	12.0%
HV 20d	20.3%	18.1%	22.7%	21.3%	20.7%
HV 60d	25.6%	25.0%	27.1%	27.0%	25.5%
IV Rank	43.9%	22.6%	82.2%	65.0%	25.5%
IV Percentile	71.2%	42.5%	98.0%	95.2%	44.8%
Term Structure	-15.5%	-35.8%	15.1%	-26.1%	8.7%
VWIV	51.7%	37.1%	66.5%	37.1%	42.3%
Skew 25d	34.7%	3.3%	70.7%	5.5%	41.9%
Skew 10d	47.2%	10.4%	99.5%	24.2%	60.8%
Call IV 25d	44.0%	27.3%	110.3%	108.0%	45.4%
Put IV 25d	78.7%	37.5%	116.7%	113.4%	87.3%
Bid-Ask Spread %	128.50	100.76	138.75	129.22	132.48
Gamma HHI	0.32	0.25	0.44	0.30	0.42
Net GEX	2.8K	413	8.8K	2.3K	8.8K
Net DEX	-123.3K	-232.1K	-60.6K	-133.5K	-232.1K
Net VEX	-955	-1.6K	-562	-931	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.10	0.00	0.33	0.00	0.00
Total Volume	38.182	0	268	0	40
Total OI	1,351.455	1,252	1,848	1,252	1,848

Daily Data (22 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
2011-06-01	$8.72	$0.00	80.4%	23.1%	21.3%	65.0%	0.0%	5.5%	-26.1%	2.3K	-133.5K	-931	0.00	129.22	0	0	388	864
2011-06-02	$8.73	$0.00	81.3%	23.3%	21.1%	65.9%	0.0%	6.4%	-22.3%	2.6K	-140.3K	-899	0.00	131.52	0	0	388	864
2011-06-03	$8.58	$7.50	70.7%	14.1%	21.6%	55.0%	0.0%	39.5%	-22.7%	1.7K	-123.2K	-1.0K	0.00	119.96	0	0	388	864
2011-06-06	$8.51	$7.50	97.2%	15.0%	21.6%	82.2%	0.0%	54.5%	-21.1%	2.0K	-132.4K	-910	0.00	122.96	0	0	388	864
2011-06-07	$8.57	$7.50	41.3%	11.0%	18.9%	25.0%	0.0%	23.4%	-3.5%	3.0K	-124.6K	-813	0.00	115.71	0	0	388	864
2011-06-08	$8.50	$7.50	68.3%	12.5%	18.2%	52.7%	0.0%	20.3%	-4.4%	2.0K	-109.3K	-832	0.00	122.04	0	0	388	864
2011-06-09	$8.58	$7.50	39.0%	11.2%	18.7%	22.6%	0.0%	26.6%	-3.0%	2.9K	-124.1K	-825	0.00	116.93	0	0	388	864
2011-06-10	$8.44	$7.50	40.7%	11.7%	18.4%	24.3%	0.0%	10.0%	-11.3%	4.3K	-109.7K	-657	0.00	100.76	0	0	388	864
2011-06-13	$8.40	$7.50	40.5%	11.6%	18.3%	24.1%	37.1%	3.3%	-5.8%	3.6K	-97.9K	-562	0.00	129.53	40	0	388	864
2011-06-14	$8.51	$7.50	59.5%	17.0%	18.1%	43.6%	0.0%	35.2%	-35.8%	1.4K	-95.4K	-919	0.00	130.42	0	0	388	864
2011-06-15	$8.35	$7.50	60.4%	17.3%	19.0%	44.6%	60.2%	39.9%	-23.0%	1.3K	-104.6K	-907	0.00	138.75	40	0	388	864
2011-06-16	$8.38	$7.50	63.0%	18.1%	18.5%	47.2%	0.0%	38.0%	-27.7%	1.4K	-105.9K	-865	0.00	138.50	0	8	388	864
2011-06-17	$8.27	$7.50	65.3%	18.7%	18.8%	49.6%	0.0%	37.5%	-33.1%	836	-83.9K	-941	0.00	136.82	0	0	388	872
2011-06-20	$8.38	$7.50	66.9%	19.2%	19.6%	51.2%	0.0%	70.7%	-23.1%	413	-72.6K	-923	0.00	133.22	0	0	388	864
2011-06-21	$8.58	$7.50	68.7%	19.7%	21.3%	53.0%	66.5%	56.5%	-19.5%	2.0K	-110.4K	-677	0.00	135.80	0	40	388	864
2011-06-22	$8.43	$7.50	56.5%	16.2%	22.2%	40.5%	47.5%	51.8%	-24.4%	1.6K	-112.7K	-785	0.00	135.82	0	40	388	904
2011-06-23	$8.45	$8.75	68.3%	19.6%	21.8%	52.6%	0.0%	60.0%	-23.1%	656	-90.5K	-818	0.00	135.87	0	0	388	944
2011-06-24	$8.34	$8.75	48.6%	13.9%	22.1%	32.5%	52.1%	28.5%	-14.3%	532	-60.6K	-773	0.00	130.32	268	0	388	944
2011-06-27	$8.44	$8.75	53.8%	15.4%	22.6%	37.7%	56.2%	49.0%	-11.1%	3.8K	-139.7K	-1.3K	0.24	129.01	164	40	620	944
2011-06-28	$8.55	$8.75	62.1%	17.8%	22.7%	46.3%	0.0%	12.2%	-8.8%	6.1K	-215.2K	-1.5K	0.33	129.32	120	40	744	984
2011-06-29	$8.51	$8.75	40.8%	11.7%	20.2%	24.5%	0.0%	53.3%	15.1%	7.3K	-193.2K	-1.6K	0.00	131.98	0	0	824	1,024
2011-06-30	$8.61	$8.75	41.8%	12.0%	20.7%	25.5%	42.3%	41.9%	8.7%	8.8K	-232.1K	-1.6K	0.00	132.48	40	0	824	1,024