MANH Options History — December 2012

In December 2012, MANH traded between $14.20 and $15.09. ATM implied volatility averaged 23.6%, placing in the 14.3% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 2.3% (HV 20d: 21.3%). Max pain ranged from $13.75 to $13.75. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.82.

Notable Days

2012-12-28: Highest Volume — 344 contracts
2012-12-12: Largest IV spike — 19.8% change
2012-12-18: Highest IV Rank — 22.1%
2012-12-10: Largest Expected Move — 7.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.51	$14.20	$15.09	$14.41	$15.09
Max Pain	$13.75	$13.75	$13.75	$13.75	$13.75
ATM IV	23.6%	20.3%	26.1%	20.3%	22.7%
Expected Move	6.9%	5.8%	7.6%	5.8%	6.5%
HV 20d	21.3%	12.6%	35.0%	35.0%	16.9%
HV 60d	27.4%	26.5%	29.2%	29.2%	27.2%
IV Rank	14.3%	7.9%	22.1%	8.0%	16.6%
IV Percentile	17.8%	4.0%	29.0%	4.8%	14.7%
Term Structure	3.9%	1.6%	6.1%	2.1%	6.1%
VWIV	23.7%	22.3%	25.8%	24.2%	22.7%
Skew 25d	5.3%	1.5%	9.8%	3.5%	4.0%
Skew 10d	12.5%	0.6%	33.1%	4.1%	5.3%
Call IV 25d	20.4%	15.1%	23.2%	20.7%	16.3%
Put IV 25d	25.7%	20.3%	28.2%	24.2%	20.3%
Bid-Ask Spread %	80.54	21.18	98.44	66.00	21.18
Gamma HHI	0.37	0.30	0.70	0.31	0.43
Net GEX	100.7K	55.5K	212.0K	103.5K	85.9K
Net DEX	-2.5M	-4.2M	-1.9M	-2.5M	-3.4M
Net VEX	-14.4K	-15.8K	-12.5K	-15.8K	-13.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.00	2.76	0.00	1.15
Total Volume	79.8	0	344	0	20
Total OI	9,485.6	9,116	9,776	9,268	9,776

Daily Data (20 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
2012-12-03	$14.41	$13.75	20.3%	5.8%	35.0%	8.0%	0.0%	3.5%	2.1%	103.5K	-2.5M	-15.8K	0.00	66.00	0	0	5,048	4,220
2012-12-04	$14.32	$13.75	23.9%	6.9%	35.0%	11.6%	0.0%	2.9%	2.6%	104.9K	-2.2M	-15.8K	0.00	96.41	0	0	5,048	4,220
2012-12-05	$14.21	$13.75	23.9%	6.8%	33.1%	11.6%	0.0%	1.5%	2.3%	103.1K	-2.0M	-15.7K	0.00	63.68	8	0	5,048	4,220
2012-12-06	$14.23	$13.75	24.8%	7.1%	24.2%	12.5%	0.0%	9.8%	1.6%	103.1K	-2.0M	-15.5K	0.00	71.71	0	0	5,048	4,220
2012-12-07	$14.29	$13.75	23.2%	7.3%	24.0%	10.9%	24.2%	5.4%	3.8%	105.2K	-2.1M	-15.3K	1.24	70.88	84	104	5,048	4,220
2012-12-10	$14.21	$13.75	25.1%	7.6%	24.0%	12.8%	0.0%	5.1%	3.4%	106.1K	-1.9M	-15.2K	0.00	63.72	0	80	5,104	4,324
2012-12-11	$14.37	$13.75	20.3%	7.4%	24.4%	7.9%	24.8%	5.5%	3.6%	104.1K	-2.3M	-15.3K	0.88	66.21	100	88	5,104	4,404
2012-12-12	$14.28	$13.75	24.3%	7.5%	24.3%	12.0%	0.0%	5.1%	3.7%	100.7K	-2.1M	-15.4K	0.00	69.77	0	0	5,164	4,492
2012-12-13	$14.22	$13.75	26.1%	7.5%	22.9%	13.8%	0.0%	4.5%	3.7%	102.6K	-2.0M	-15.1K	0.00	91.11	0	0	5,164	4,492
2012-12-14	$14.20	$13.75	25.8%	7.4%	22.7%	13.5%	25.8%	4.3%	3.8%	100.3K	-1.9M	-14.8K	0.00	89.91	0	44	5,164	4,492
2012-12-17	$14.28	$13.75	25.7%	7.4%	22.5%	13.4%	0.0%	2.6%	4.2%	106.3K	-2.1M	-14.1K	0.00	96.15	0	0	5,164	4,496
2012-12-18	$14.37	$13.75	26.1%	7.5%	14.1%	22.1%	0.0%	4.6%	3.4%	101.8K	-2.3M	-13.9K	0.00	91.87	0	0	5,164	4,496
2012-12-19	$14.63	$13.75	24.4%	7.0%	12.6%	19.4%	0.0%	5.7%	4.2%	102.0K	-3.0M	-13.9K	0.00	78.87	0	0	5,164	4,496
2012-12-20	$14.77	$13.75	22.3%	6.4%	13.0%	16.1%	22.3%	7.1%	5.8%	107.6K	-3.4M	-13.2K	0.00	95.31	4	0	5,164	4,496
2012-12-21	$15.08	$13.75	22.4%	6.4%	14.4%	16.2%	22.5%	9.1%	4.9%	212.0K	-4.2M	-12.5K	2.76	96.60	84	232	5,164	4,496
2012-12-24	$14.81	$13.75	21.9%	6.3%	15.9%	15.4%	0.0%	3.1%	4.1%	56.3K	-2.5M	-12.9K	0.50	97.76	80	40	4,388	4,728
2012-12-26	$14.70	$13.75	23.1%	6.6%	16.1%	17.4%	0.0%	6.0%	3.9%	55.5K	-2.2M	-13.7K	0.00	98.44	284	0	4,468	4,768
2012-12-27	$14.88	$13.75	22.9%	6.6%	15.3%	17.1%	0.0%	8.4%	4.9%	77.9K	-2.8M	-13.5K	0.00	95.54	0	0	4,752	4,768
2012-12-28	$14.77	$13.75	22.8%	6.5%	15.5%	16.9%	0.0%	7.3%	6.0%	74.6K	-2.7M	-13.5K	1.15	89.70	160	184	4,752	4,768
2012-12-31	$15.09	$13.75	22.7%	6.5%	16.9%	16.6%	22.7%	4.0%	6.1%	85.9K	-3.4M	-13.2K	0.00	21.18	0	20	4,828	4,948