MANH Options History — February 2013

In February 2013, MANH traded between $16.78 and $17.53. ATM implied volatility averaged 22.5%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded below realized volatility by 9.2% (HV 20d: 31.7%). Max pain ranged from $17.50 to $17.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 1.26.

Notable Days

2013-02-27: Highest Volume — 324 contracts
2013-02-07: Largest IV spike — 24.0% change
2013-02-25: Highest IV Rank — 25.6%
2013-02-25: Largest Expected Move — 8.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.13	$16.78	$17.53	$17.25	$17.46
Max Pain	$17.50	$17.50	$17.50	$17.50	$17.50
ATM IV	22.5%	18.1%	28.2%	21.3%	20.1%
Expected Move	6.6%	5.8%	8.1%	6.4%	5.8%
HV 20d	31.7%	20.8%	34.4%	31.8%	20.8%
HV 60d	26.3%	23.9%	30.6%	30.6%	25.6%
IV Rank	16.3%	9.3%	25.6%	14.4%	12.4%
IV Percentile	19.9%	4.0%	51.2%	11.5%	5.6%
Term Structure	2.7%	1.5%	4.7%	2.8%	4.3%
VWIV	21.8%	12.5%	26.6%	23.1%	20.1%
Skew 25d	5.4%	0.5%	9.6%	4.1%	0.5%
Skew 10d	9.0%	0.9%	15.9%	10.4%	0.9%
Call IV 25d	19.7%	15.4%	24.3%	21.2%	16.9%
Put IV 25d	25.2%	17.4%	27.7%	25.3%	17.4%
Bid-Ask Spread %	86.00	32.55	98.07	78.72	98.07
Gamma HHI	0.41	0.33	0.54	0.33	0.49
Net GEX	107.9K	80.8K	138.8K	114.8K	118.3K
Net DEX	-3.8M	-4.8M	-2.4M	-4.6M	-3.5M
Net VEX	-9.7K	-10.8K	-8.2K	-10.3K	-9.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.26	0.00	7.00	0.18	0.56
Total Volume	104.842	4	324	52	112
Total OI	7,794.737	6,664	8,716	8,120	7,216

Daily Data (19 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
2013-02-01	$17.25	$17.50	21.3%	6.4%	31.8%	14.4%	0.0%	4.1%	2.8%	114.8K	-4.6M	-10.3K	0.18	78.72	44	8	4,356	3,764
2013-02-04	$17.04	$17.50	22.6%	6.6%	32.4%	16.5%	0.0%	3.6%	2.1%	114.7K	-4.2M	-10.2K	2.44	82.11	64	156	4,336	3,764
2013-02-05	$17.09	$17.50	20.4%	6.6%	32.4%	13.0%	23.1%	3.9%	2.3%	110.8K	-4.2M	-10.7K	0.00	83.97	4	0	4,400	3,896
2013-02-06	$16.96	$17.50	18.1%	6.6%	32.4%	9.3%	0.0%	4.1%	2.3%	113.0K	-3.9M	-10.8K	0.00	82.61	56	0	4,404	3,896
2013-02-07	$16.92	$17.50	22.5%	6.4%	32.4%	16.3%	22.6%	6.3%	2.9%	117.1K	-3.9M	-10.4K	7.00	85.50	24	168	4,440	3,896
2013-02-08	$16.95	$17.50	22.1%	6.3%	32.3%	15.8%	0.0%	5.9%	2.7%	109.4K	-3.9M	-10.5K	0.00	84.93	0	12	4,464	4,064
2013-02-11	$16.86	$17.50	25.7%	7.4%	31.8%	21.5%	0.0%	6.4%	1.8%	108.1K	-3.8M	-10.0K	0.57	83.16	28	16	4,464	4,064
2013-02-12	$17.18	$17.50	22.4%	6.4%	32.3%	16.2%	0.0%	7.2%	2.7%	111.5K	-4.5M	-9.5K	0.00	92.08	4	0	4,492	4,076
2013-02-13	$17.11	$17.50	21.9%	6.3%	30.8%	15.5%	12.5%	6.4%	3.2%	99.8K	-4.3M	-9.6K	0.26	32.55	156	40	4,496	4,076
2013-02-14	$17.22	$17.50	22.1%	6.3%	30.3%	15.8%	0.0%	7.2%	2.8%	113.7K	-4.6M	-9.1K	0.00	92.85	4	0	4,612	4,104
2013-02-15	$17.36	$17.50	22.0%	6.3%	30.3%	15.5%	22.7%	8.0%	2.9%	138.8K	-4.8M	-9.0K	0.22	92.08	36	8	4,608	4,104
2013-02-19	$17.53	$17.50	21.7%	6.2%	30.3%	15.0%	21.7%	9.6%	3.3%	107.5K	-3.5M	-8.2K	0.08	94.31	192	16	3,320	3,344
2013-02-20	$17.08	$17.50	23.6%	6.8%	32.0%	18.2%	23.4%	3.4%	2.1%	95.7K	-3.1M	-9.5K	0.00	96.39	12	0	3,484	3,360
2013-02-21	$16.78	$17.50	26.4%	7.6%	32.8%	22.7%	24.1%	4.4%	1.5%	80.8K	-2.4M	-10.4K	5.50	87.85	8	44	3,472	3,360
2013-02-22	$17.16	$17.50	22.8%	6.5%	33.4%	16.9%	26.6%	7.0%	2.1%	101.1K	-3.1M	-9.3K	0.00	93.19	0	40	3,472	3,364
2013-02-25	$16.86	$17.50	28.2%	8.1%	34.0%	25.6%	0.0%	3.1%	1.5%	82.9K	-2.7M	-9.4K	2.15	92.39	80	172	3,472	3,404
2013-02-26	$17.22	$17.50	22.3%	6.4%	34.4%	16.1%	22.3%	6.8%	3.4%	101.2K	-3.1M	-9.2K	0.64	88.66	100	64	3,500	3,500
2013-02-27	$17.34	$17.50	21.0%	6.0%	34.4%	14.0%	21.0%	5.4%	4.7%	110.5K	-3.3M	-8.9K	1.79	92.56	116	208	3,520	3,536
2013-02-28	$17.46	$17.50	20.1%	5.8%	20.8%	12.4%	20.1%	0.5%	4.3%	118.3K	-3.5M	-9.2K	0.56	98.07	72	40	3,568	3,648