MANH Options History — September 2014

In September 2014, MANH traded between $28.55 and $33.80. ATM implied volatility averaged 30.2%, placing in the 34.1% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 4.2% (HV 20d: 26.0%). Max pain ranged from $30.00 to $30.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.59.

Notable Days

2014-09-19: Highest Volume — 161 contracts
2014-09-10: Largest IV spike — 74.4% change
2014-09-10: Highest IV Rank — 100.0%
2014-09-17: Largest Expected Move — 10.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$31.45	$28.55	$33.80	$29.06	$33.42
Max Pain	$30.00	$30.00	$30.00	$30.00	$30.00
ATM IV	30.2%	20.2%	54.1%	27.7%	31.0%
Expected Move	8.7%	7.8%	10.0%	7.8%	8.8%
HV 20d	26.0%	19.7%	30.4%	20.6%	28.4%
HV 60d	28.3%	26.4%	29.7%	26.5%	29.0%
IV Rank	34.1%	5.6%	100.0%	31.6%	35.1%
IV Percentile	54.5%	0.8%	100.0%	51.2%	63.1%
Term Structure	1.4%	-3.5%	8.4%	4.0%	1.9%
VWIV	36.6%	29.4%	48.8%	31.6%	29.4%
Skew 25d	7.9%	-6.7%	46.2%	1.8%	12.0%
Skew 10d	12.9%	-5.3%	66.7%	-0.1%	19.1%
Call IV 25d	28.8%	23.2%	35.4%	29.0%	30.4%
Put IV 25d	36.7%	21.0%	81.6%	30.8%	42.4%
Bid-Ask Spread %	73.49	52.28	95.31	82.03	75.01
Gamma HHI	0.36	0.26	0.56	0.26	0.45
Net GEX	11.7K	-17.1K	39.8K	7.6K	28.5K
Net DEX	-291.8K	-1.5M	1.1M	747.2K	-922.6K
Net VEX	-5.7K	-7.0K	-4.2K	-6.4K	-4.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.59	0.00	25.25	0.08	0.00
Total Volume	43.095	0	161	20	27
Total OI	2,532.238	2,383	2,704	2,435	2,471

Daily Data (21 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
2014-09-02	$29.06	$30.00	27.7%	7.8%	20.6%	31.6%	0.0%	1.8%	4.0%	7.6K	747.2K	-6.4K	0.00	82.03	0	20	1,442	993
2014-09-03	$28.64	$30.00	23.0%	8.7%	20.9%	16.0%	31.6%	0.4%	5.5%	4.0K	972.8K	-6.1K	0.08	68.62	13	1	1,442	1,013
2014-09-04	$28.55	$30.00	22.7%	8.6%	20.6%	14.1%	0.0%	5.8%	8.4%	8.0K	972.6K	-6.0K	0.03	85.62	33	1	1,452	1,014
2014-09-05	$28.55	$30.00	20.2%	8.4%	20.5%	5.6%	0.0%	9.5%	0.4%	3.5K	1.1M	-5.6K	0.00	72.09	0	0	1,483	1,013
2014-09-08	$28.82	$30.00	25.0%	8.4%	20.8%	21.8%	0.0%	11.4%	-1.4%	9.1K	894.8K	-6.0K	0.08	69.63	12	1	1,483	1,013
2014-09-09	$28.66	$30.00	31.0%	8.7%	19.7%	42.0%	0.0%	10.5%	-0.9%	4.3K	1.0M	-5.7K	25.25	92.19	4	101	1,478	1,012
2014-09-10	$29.35	$30.00	54.1%	8.6%	20.7%	100.0%	0.0%	16.1%	0.9%	-17.1K	721.8K	-6.3K	0.00	95.31	18	0	1,477	1,113
2014-09-11	$31.03	$30.00	33.9%	9.1%	28.6%	43.3%	48.8%	0.6%	-2.1%	24.6K	-370.2K	-7.0K	1.21	88.56	43	52	1,495	1,113
2014-09-12	$31.07	$30.00	32.6%	8.7%	28.4%	39.7%	0.0%	2.3%	-0.3%	8.9K	-330.3K	-6.7K	0.81	68.45	37	30	1,495	1,129
2014-09-15	$30.85	$30.00	33.5%	9.1%	27.6%	42.1%	0.0%	-1.8%	-1.2%	7.9K	-190.1K	-6.5K	0.80	89.16	15	12	1,513	1,138
2014-09-16	$31.96	$30.00	33.4%	9.2%	30.0%	41.8%	0.0%	3.3%	-1.5%	-1.3K	-920.7K	-6.3K	0.53	87.30	62	33	1,528	1,145
2014-09-17	$32.27	$30.00	33.3%	10.0%	30.1%	41.6%	29.4%	3.8%	1.4%	-7.9K	-1.0M	-6.1K	0.73	69.80	15	11	1,533	1,171
2014-09-18	$33.27	$30.00	28.9%	8.4%	30.4%	29.3%	0.0%	9.5%	0.7%	7.7K	-1.5M	-5.5K	0.04	55.10	50	2	1,518	1,168
2014-09-19	$33.22	$30.00	27.6%	8.8%	29.3%	25.6%	0.0%	10.5%	2.3%	-1.2K	-1.5M	-5.4K	0.04	52.87	155	6	1,533	1,168
2014-09-22	$33.80	$30.00	27.3%	8.5%	29.5%	24.8%	0.0%	14.1%	4.3%	21.0K	-975.9K	-5.2K	0.00	61.00	47	0	1,333	1,050
2014-09-23	$33.54	$30.00	29.4%	8.7%	27.9%	30.6%	0.0%	9.0%	2.8%	21.8K	-906.0K	-5.5K	0.00	52.28	49	0	1,349	1,050
2014-09-24	$33.73	$30.00	27.1%	8.8%	27.8%	24.3%	0.0%	10.5%	4.1%	27.6K	-955.9K	-5.2K	0.00	56.82	36	0	1,394	1,050
2014-09-25	$33.29	$30.00	23.5%	8.9%	28.4%	14.2%	0.0%	-6.7%	4.1%	24.4K	-837.9K	-5.1K	0.00	56.56	2	0	1,420	1,050
2014-09-26	$33.66	$30.00	36.1%	8.8%	28.1%	49.4%	0.0%	46.2%	-3.5%	39.8K	-1.0M	-4.5K	0.00	80.93	9	0	1,422	1,050
2014-09-29	$33.67	$30.00	33.6%	8.7%	27.9%	42.4%	0.0%	-3.2%	-1.5%	24.5K	-1.0M	-4.2K	0.60	83.92	5	3	1,413	1,050
2014-09-30	$33.42	$30.00	31.0%	8.8%	28.4%	35.1%	0.0%	12.0%	1.9%	28.5K	-922.6K	-4.8K	0.00	75.01	27	0	1,418	1,053