MANH Options History — November 2013

In November 2013, MANH traded between $26.40 and $30.20. ATM implied volatility averaged 22.2%, placing in the 41.4% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded below realized volatility by 23.2% (HV 20d: 45.4%). Max pain ranged from $23.75 to $28.75. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 2.87.

Notable Days

2013-11-12: Highest Volume — 1,056 contracts
2013-11-14: Largest IV spike — 15.7% change
2013-11-04: Highest IV Rank — 57.7%
2013-11-14: Largest Expected Move — 6.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.23	$26.40	$30.20	$26.52	$30.07
Max Pain	$27.38	$23.75	$28.75	$23.75	$28.75
ATM IV	22.2%	18.5%	26.3%	22.9%	22.4%
Expected Move	6.4%	6.1%	6.9%	6.6%	6.4%
HV 20d	45.4%	25.8%	56.8%	54.8%	25.8%
HV 60d	35.8%	35.3%	36.5%	35.3%	35.6%
IV Rank	41.4%	26.6%	57.7%	44.3%	42.1%
IV Percentile	44.4%	10.7%	78.2%	51.6%	48.4%
Term Structure	0.6%	0.2%	1.5%	0.2%	0.2%
VWIV	22.5%	20.1%	24.6%	20.1%	21.0%
Skew 25d	4.1%	1.4%	6.3%	3.6%	3.1%
Skew 10d	11.6%	6.1%	18.8%	6.5%	13.0%
Call IV 25d	20.9%	18.4%	22.2%	21.3%	21.3%
Put IV 25d	25.0%	23.6%	25.8%	24.9%	24.4%
Bid-Ask Spread %	82.85	79.15	93.95	93.95	84.32
Gamma HHI	0.25	0.14	0.47	0.38	0.14
Net GEX	134.1K	63.4K	242.6K	188.2K	83.9K
Net DEX	-8.9M	-11.4M	-7.0M	-7.0M	-8.6M
Net VEX	-24.9K	-27.9K	-20.9K	-26.9K	-26.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.87	0.00	23.00	13.67	0.67
Total Volume	266.2	0	1,056	176	20
Total OI	12,783.4	11,848	14,532	12,648	12,432

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
2013-11-01	$26.52	$23.75	22.9%	6.6%	54.8%	44.3%	20.1%	3.6%	0.2%	188.2K	-7.0M	-26.9K	13.67	93.95	12	164	5,144	7,504
2013-11-04	$27.02	$27.50	26.3%	6.2%	54.0%	57.7%	0.0%	4.7%	0.3%	199.6K	-8.0M	-24.7K	0.38	81.05	208	80	5,136	7,544
2013-11-05	$26.79	$27.50	22.8%	6.6%	53.7%	43.8%	0.0%	3.2%	0.4%	215.2K	-8.2M	-23.8K	0.00	82.23	0	0	5,292	7,616
2013-11-06	$27.01	$27.50	21.5%	6.1%	53.4%	38.6%	0.0%	5.9%	0.8%	204.4K	-8.5M	-24.1K	5.00	82.85	40	200	5,292	7,616
2013-11-07	$26.40	$27.50	22.3%	6.6%	54.4%	42.0%	22.1%	1.4%	0.6%	242.6K	-7.3M	-23.8K	1.60	83.76	40	64	5,312	7,660
2013-11-08	$27.52	$27.50	20.5%	6.3%	55.5%	34.7%	0.0%	6.1%	0.6%	180.5K	-9.9M	-22.4K	2.80	80.83	60	168	5,352	7,724
2013-11-11	$27.28	$27.50	21.6%	6.2%	55.7%	38.9%	21.7%	4.4%	0.9%	192.5K	-9.3M	-23.1K	0.62	90.67	52	32	5,404	7,848
2013-11-12	$28.15	$27.50	18.5%	6.3%	56.1%	26.6%	22.5%	3.7%	0.9%	131.3K	-11.4M	-20.9K	0.43	79.15	740	316	5,448	7,876
2013-11-13	$28.03	$27.50	20.7%	6.8%	56.2%	35.6%	0.0%	4.4%	0.6%	136.9K	-11.1M	-23.5K	0.59	82.14	164	96	5,932	8,172
2013-11-14	$27.97	$27.50	24.0%	6.9%	56.3%	48.6%	23.9%	3.9%	0.5%	101.9K	-11.1M	-25.6K	0.75	79.45	128	96	6,088	8,240
2013-11-15	$27.77	$27.50	23.4%	6.7%	56.5%	46.5%	23.4%	3.7%	0.6%	117.6K	-10.7M	-26.0K	0.14	80.34	432	60	6,196	8,336
2013-11-18	$28.55	$27.50	22.8%	6.5%	56.8%	43.7%	24.6%	3.8%	0.3%	103.1K	-7.9M	-27.9K	0.28	81.04	244	68	4,664	7,384
2013-11-19	$28.66	$27.50	22.4%	6.4%	56.8%	42.4%	21.3%	3.7%	0.8%	101.8K	-7.7M	-25.5K	0.34	81.73	244	84	4,420	7,428
2013-11-20	$28.50	$27.50	22.0%	6.3%	28.3%	40.7%	22.1%	4.0%	1.2%	97.9K	-7.4M	-26.1K	23.00	85.84	4	92	4,408	7,512
2013-11-21	$29.05	$27.50	22.0%	6.3%	27.1%	40.8%	22.3%	6.3%	1.5%	83.4K	-8.1M	-25.3K	0.39	82.96	112	44	4,408	7,604
2013-11-22	$29.38	$27.50	22.4%	6.4%	27.0%	42.1%	23.3%	3.7%	0.4%	78.2K	-8.8M	-25.1K	0.42	80.82	316	132	4,436	7,648
2013-11-25	$29.54	$27.50	21.3%	6.1%	26.9%	38.0%	23.0%	3.9%	0.6%	63.4K	-8.6M	-25.5K	0.00	79.88	500	0	4,392	7,780
2013-11-26	$30.20	$27.50	22.0%	6.3%	27.5%	40.5%	23.5%	4.6%	0.4%	83.7K	-8.9M	-25.6K	3.33	82.97	24	80	4,392	7,780
2013-11-27	$30.20	$27.50	22.1%	6.3%	25.8%	41.0%	21.0%	4.2%	0.8%	75.5K	-8.8M	-26.2K	0.11	81.10	188	20	4,388	7,860
2013-11-29	$30.07	$28.75	22.4%	6.4%	25.8%	42.1%	0.0%	3.1%	0.2%	83.9K	-8.6M	-26.7K	0.67	84.32	12	8	4,552	7,880