MANH Options History — February 2014

In February 2014, MANH traded between $32.57 and $38.42. ATM implied volatility averaged 29.4%, placing in the 49.0% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 1.5% (HV 20d: 28.0%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.19.

Notable Days

2014-02-04: Highest Volume — 665 contracts
2014-02-05: Largest IV drop — 34.3% change
2014-02-03: Highest IV Rank — 100.0%
2014-02-04: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$34.67	$32.57	$38.42	$33.26	$37.89
Max Pain	$30.53	$30.00	$35.00	$31.25	$35.00
ATM IV	29.4%	21.3%	48.3%	43.2%	21.3%
Expected Move	8.7%	6.1%	13.8%	12.4%	6.1%
HV 20d	28.0%	24.8%	32.0%	32.0%	24.8%
HV 60d	24.9%	24.1%	26.4%	26.4%	26.0%
IV Rank	49.0%	25.9%	100.0%	100.0%	25.9%
IV Percentile	80.0%	29.8%	100.0%	100.0%	29.8%
Term Structure	-1.2%	-11.3%	3.1%	-6.3%	1.8%
VWIV	29.8%	22.6%	46.6%	45.4%	25.1%
Skew 25d	3.5%	-10.1%	13.4%	4.0%	2.2%
Skew 10d	13.8%	-15.5%	47.7%	22.7%	4.4%
Call IV 25d	28.4%	18.6%	45.8%	41.5%	25.7%
Put IV 25d	31.9%	22.1%	52.0%	45.5%	27.9%
Bid-Ask Spread %	96.12	61.99	112.95	86.74	61.99
Gamma HHI	0.20	0.16	0.26	0.17	0.21
Net GEX	227.0K	146.3K	294.1K	146.3K	181.1K
Net DEX	-10.1M	-13.0M	-7.5M	-7.9M	-11.5M
Net VEX	-24.6K	-31.3K	-16.1K	-31.0K	-17.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.19	0.00	1.66	0.33	0.05
Total Volume	168.316	1	665	110	604
Total OI	8,919.263	7,635	9,465	8,883	7,752

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
2014-02-03	$33.26	$31.25	43.2%	12.4%	32.0%	100.0%	45.4%	4.0%	-6.3%	146.3K	-7.9M	-31.0K	0.33	86.74	83	27	4,343	4,540
2014-02-04	$33.12	$31.25	48.3%	13.8%	29.1%	100.0%	46.6%	6.2%	-11.3%	153.5K	-7.7M	-31.3K	0.28	76.56	520	145	4,390	4,563
2014-02-05	$33.03	$31.25	31.7%	9.1%	29.0%	54.6%	29.8%	5.7%	0.2%	232.4K	-8.3M	-31.3K	0.28	96.05	225	62	4,820	4,635
2014-02-06	$32.57	$31.25	29.8%	8.5%	29.2%	49.2%	30.0%	3.1%	-1.4%	214.1K	-7.5M	-30.4K	1.66	98.67	64	106	4,784	4,681
2014-02-07	$33.13	$30.00	27.1%	7.4%	29.3%	42.0%	28.7%	1.9%	0.9%	237.6K	-8.3M	-29.4K	0.23	103.43	47	11	4,760	4,654
2014-02-10	$32.90	$30.00	29.1%	9.3%	29.6%	47.4%	0.0%	0.4%	-2.4%	261.5K	-8.2M	-27.2K	0.00	104.48	0	1	4,753	4,665
2014-02-11	$33.38	$30.00	25.7%	9.5%	28.7%	38.1%	0.0%	-4.4%	-4.8%	251.1K	-9.1M	-27.0K	0.00	106.87	8	0	4,753	4,666
2014-02-12	$33.50	$30.00	25.8%	8.8%	28.6%	38.4%	0.0%	2.4%	-1.8%	256.3K	-9.4M	-26.6K	0.23	105.41	47	11	4,750	4,666
2014-02-13	$34.27	$30.00	26.6%	7.6%	28.0%	40.5%	26.6%	9.9%	3.1%	281.9K	-10.8M	-25.1K	0.05	97.58	87	4	4,771	4,657
2014-02-14	$34.06	$30.00	27.2%	7.8%	28.1%	42.3%	27.2%	7.9%	1.5%	274.3K	-10.6M	-25.7K	0.00	103.17	13	0	4,771	4,661
2014-02-18	$34.34	$30.00	29.7%	8.5%	28.1%	48.9%	29.9%	-10.1%	-0.3%	281.1K	-11.1M	-23.7K	0.02	112.95	51	1	4,778	4,661
2014-02-19	$34.38	$30.00	27.5%	7.9%	27.6%	42.9%	28.0%	8.9%	0.5%	294.1K	-11.3M	-23.8K	0.09	105.28	34	3	4,797	4,662
2014-02-20	$35.18	$30.00	26.4%	7.6%	27.6%	39.9%	26.6%	3.3%	0.7%	267.6K	-12.1M	-22.4K	0.01	104.56	202	1	4,700	4,618
2014-02-21	$35.79	$30.00	26.5%	7.6%	27.7%	40.3%	25.7%	5.3%	0.2%	255.2K	-13.0M	-21.1K	0.03	104.65	198	5	4,700	4,617
2014-02-24	$36.50	$30.00	26.8%	7.7%	26.2%	41.0%	22.6%	13.4%	-0.0%	182.6K	-10.6M	-19.3K	0.01	90.88	233	2	3,746	3,932
2014-02-25	$36.21	$30.00	26.9%	7.7%	24.8%	41.4%	27.0%	1.1%	-0.0%	186.0K	-10.6M	-19.7K	0.00	89.42	52	0	3,851	3,932
2014-02-26	$36.72	$30.00	28.0%	8.0%	24.9%	44.3%	27.3%	9.7%	-0.5%	187.2K	-11.0M	-19.2K	0.13	83.33	72	9	3,870	3,932
2014-02-27	$38.42	$30.00	31.8%	9.1%	28.2%	54.8%	30.9%	-4.3%	-3.4%	168.2K	-11.9M	-16.1K	0.04	94.34	260	10	3,703	3,932
2014-02-28	$37.89	$35.00	21.3%	6.1%	24.8%	25.9%	25.1%	2.2%	1.8%	181.1K	-11.5M	-17.0K	0.05	61.99	576	28	3,810	3,942