MANH Options History — September 2013

In September 2013, MANH traded between $21.80 and $24.02. ATM implied volatility averaged 24.7%, placing in the 41.0% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 3.0% (HV 20d: 21.7%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 2.71.

Notable Days

2013-09-26: Highest Volume — 936 contracts
2013-09-04: Largest IV spike — 42.8% change
2013-09-09: Highest IV Rank — 57.8%
2013-09-30: Largest Expected Move — 8.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.09	$21.80	$24.02	$21.91	$23.86
Max Pain	$20.50	$20.00	$22.50	$22.50	$21.25
ATM IV	24.7%	18.2%	29.9%	18.2%	29.0%
Expected Move	7.2%	5.2%	8.3%	5.2%	8.3%
HV 20d	21.7%	15.7%	26.1%	24.5%	15.7%
HV 60d	23.4%	21.6%	24.5%	23.8%	21.6%
IV Rank	41.0%	20.5%	57.8%	20.5%	54.8%
IV Percentile	60.7%	10.7%	86.5%	10.7%	83.7%
Term Structure	2.1%	-2.1%	5.1%	3.8%	1.7%
VWIV	25.5%	15.0%	30.8%	15.0%	30.8%
Skew 25d	5.0%	1.6%	7.7%	7.7%	6.1%
Skew 10d	10.6%	3.7%	36.3%	7.7%	7.2%
Call IV 25d	23.1%	19.4%	25.5%	19.4%	23.4%
Put IV 25d	28.1%	26.2%	29.9%	27.0%	29.5%
Bid-Ask Spread %	90.75	84.12	106.68	101.86	94.62
Gamma HHI	0.19	0.17	0.21	0.17	0.20
Net GEX	121.6K	88.8K	154.6K	94.0K	120.1K
Net DEX	-6.3M	-8.2M	-3.2M	-3.7M	-7.8M
Net VEX	-29.5K	-33.6K	-25.7K	-32.5K	-28.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.71	0.00	9.64	0.48	2.64
Total Volume	171.4	0	936	44	204
Total OI	11,765.2	11,040	12,836	11,040	12,836

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
2013-09-03	$21.91	$22.50	18.2%	5.2%	24.5%	20.5%	15.0%	7.7%	3.8%	94.0K	-3.7M	-32.5K	0.00	101.86	0	44	5,244	5,796
2013-09-04	$21.80	$22.50	26.0%	7.5%	24.2%	45.4%	26.1%	4.3%	1.9%	88.8K	-3.2M	-33.3K	0.00	95.35	0	188	5,244	5,840
2013-09-05	$22.17	$22.50	21.9%	6.3%	24.7%	32.4%	0.0%	5.3%	1.8%	94.3K	-3.8M	-32.7K	0.48	106.68	84	40	5,244	5,988
2013-09-06	$22.10	$20.00	21.6%	7.6%	23.4%	31.2%	27.2%	5.1%	1.0%	90.2K	-3.8M	-33.6K	1.00	84.12	32	32	5,324	6,016
2013-09-09	$22.75	$20.00	29.9%	8.0%	25.5%	57.8%	28.6%	7.4%	-1.1%	123.9K	-5.2M	-30.7K	0.33	93.76	24	8	5,348	6,036
2013-09-10	$23.13	$20.00	25.5%	7.1%	26.1%	43.9%	0.0%	4.8%	5.1%	133.1K	-6.5M	-29.7K	1.20	89.60	40	48	5,332	6,036
2013-09-11	$23.16	$20.00	18.9%	7.3%	26.1%	22.5%	26.4%	5.2%	1.3%	127.1K	-6.7M	-29.3K	9.40	85.22	20	188	5,372	6,084
2013-09-12	$23.05	$20.00	26.8%	7.7%	26.0%	48.0%	25.2%	5.1%	1.1%	111.9K	-6.3M	-30.3K	0.96	88.68	100	96	5,380	6,264
2013-09-13	$23.13	$20.00	24.5%	7.0%	23.4%	40.5%	0.0%	4.5%	2.8%	114.1K	-6.4M	-30.0K	3.83	87.77	24	92	5,468	6,360
2013-09-16	$23.16	$20.00	24.0%	6.9%	23.4%	38.8%	0.0%	4.4%	3.3%	121.4K	-6.6M	-29.0K	0.00	85.47	0	0	5,472	6,400
2013-09-17	$23.06	$20.00	25.8%	7.4%	23.4%	44.8%	26.0%	4.9%	2.6%	113.4K	-6.4M	-28.8K	0.00	90.03	0	60	5,472	6,400
2013-09-18	$23.25	$20.00	24.4%	7.0%	21.7%	40.2%	0.0%	5.5%	2.6%	128.1K	-6.8M	-28.6K	3.33	86.97	12	40	5,472	6,440
2013-09-19	$23.24	$20.00	24.2%	6.9%	20.0%	39.6%	0.0%	4.9%	3.1%	127.9K	-6.8M	-27.9K	3.50	90.02	40	140	5,476	6,480
2013-09-20	$23.40	$20.00	25.7%	7.4%	18.2%	44.3%	0.0%	4.9%	1.5%	140.6K	-7.2M	-28.1K	0.00	87.63	24	0	5,516	6,580
2013-09-23	$23.46	$20.00	22.3%	6.4%	18.1%	33.4%	0.0%	7.2%	4.0%	135.2K	-6.9M	-27.3K	0.00	89.26	0	0	5,280	6,332
2013-09-24	$23.78	$20.00	24.9%	7.1%	18.6%	41.6%	20.8%	5.5%	3.1%	138.8K	-7.7M	-25.7K	0.10	87.11	548	56	5,280	6,332
2013-09-25	$23.64	$20.00	26.9%	7.7%	16.2%	48.1%	29.2%	1.6%	-2.1%	149.2K	-7.9M	-27.8K	1.64	91.37	56	92	5,788	6,388
2013-09-26	$24.02	$20.00	27.4%	7.9%	16.6%	49.8%	25.6%	2.6%	1.2%	154.6K	-8.2M	-28.1K	9.64	89.51	88	848	5,828	6,432
2013-09-27	$23.73	$21.25	25.3%	7.3%	17.5%	43.2%	24.9%	3.1%	2.6%	126.1K	-8.0M	-28.2K	2.64	90.04	44	116	5,888	6,836
2013-09-30	$23.86	$21.25	29.0%	8.3%	15.7%	54.8%	30.8%	6.1%	1.7%	120.1K	-7.8M	-28.3K	2.64	94.62	56	148	5,932	6,904