MANH Options History — November 2014

In November 2014, MANH traded between $37.67 and $40.53. ATM implied volatility averaged 27.1%, placing in the 11.5% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 3.5% (HV 20d: 23.5%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 2.63.

Notable Days

2014-11-05: Highest Volume — 1,295 contracts
2014-11-20: Largest IV spike — 21.8% change
2014-11-05: Highest IV Rank — 15.2%
2014-11-06: Largest Expected Move — 9.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.46	$37.67	$40.53	$39.89	$39.56
Max Pain	$38.95	$35.00	$40.00	$35.00	$40.00
ATM IV	27.1%	22.7%	28.6%	27.8%	26.5%
Expected Move	9.0%	7.9%	9.5%	7.9%	8.9%
HV 20d	23.5%	20.2%	29.8%	29.8%	22.5%
HV 60d	27.8%	26.8%	28.5%	28.5%	28.0%
IV Rank	11.5%	3.8%	15.2%	13.9%	9.8%
IV Percentile	36.5%	7.1%	49.2%	45.2%	29.4%
Term Structure	0.3%	-1.0%	4.1%	-1.0%	-0.4%
VWIV	34.1%	31.1%	37.2%	31.1%	33.5%
Skew 25d	4.5%	-0.6%	13.3%	-0.6%	0.3%
Skew 10d	7.5%	-0.9%	20.1%	-0.9%	0.3%
Call IV 25d	26.2%	19.7%	29.8%	25.0%	26.8%
Put IV 25d	30.7%	24.3%	36.5%	24.3%	27.1%
Bid-Ask Spread %	72.72	62.69	84.08	84.08	82.70
Gamma HHI	0.64	0.49	0.85	0.76	0.49
Net GEX	102.7K	-33.0K	205.7K	119.8K	7.4K
Net DEX	-2.1M	-4.0M	227.6K	-3.8M	-310.9K
Net VEX	-14.8K	-18.0K	-6.5K	-6.5K	-15.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.63	0.00	10.56	1.27	1.58
Total Volume	393.526	21	1,295	318	49
Total OI	3,136.684	2,050	3,776	2,050	2,675

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
2014-11-03	$39.89	$35.00	27.8%	7.9%	29.8%	13.9%	31.1%	-0.6%	-1.0%	119.8K	-3.8M	-6.5K	1.27	84.08	140	178	1,419	631
2014-11-04	$40.06	$35.00	28.5%	8.4%	27.0%	15.0%	31.2%	1.9%	-0.5%	130.0K	-4.0M	-6.6K	1.84	80.01	122	225	1,473	637
2014-11-05	$39.87	$35.00	28.6%	9.3%	27.3%	15.2%	35.7%	1.6%	0.4%	134.1K	-3.9M	-7.3K	10.56	76.33	112	1,183	1,516	695
2014-11-06	$40.53	$40.00	28.3%	9.5%	21.4%	14.8%	33.2%	1.1%	0.3%	81.8K	-3.2M	-16.2K	0.85	70.16	369	314	1,532	1,721
2014-11-07	$40.01	$40.00	27.4%	9.2%	20.2%	13.4%	34.1%	4.2%	0.4%	156.7K	-3.2M	-17.3K	3.08	64.35	102	314	1,736	1,731
2014-11-10	$40.17	$40.00	28.3%	9.3%	20.3%	14.8%	34.7%	3.6%	-0.1%	160.5K	-3.3M	-16.4K	2.68	63.06	94	252	1,725	1,731
2014-11-11	$39.87	$35.00	27.9%	9.2%	21.2%	14.2%	34.5%	2.9%	0.3%	178.7K	-3.5M	-14.9K	2.93	80.17	86	252	1,738	1,598
2014-11-12	$40.18	$40.00	27.2%	9.3%	21.2%	13.1%	33.0%	13.3%	0.0%	181.4K	-3.5M	-15.8K	2.94	77.17	84	247	1,732	1,735
2014-11-13	$40.07	$40.00	26.5%	9.1%	21.4%	9.8%	35.1%	3.5%	0.4%	203.4K	-3.5M	-15.6K	3.82	67.10	98	374	1,733	1,735
2014-11-14	$39.58	$40.00	26.4%	9.2%	22.7%	9.5%	34.0%	10.6%	0.5%	205.7K	-2.6M	-18.0K	3.17	73.20	6	19	1,751	1,976
2014-11-17	$38.88	$40.00	27.7%	9.4%	23.4%	11.6%	37.2%	1.7%	0.1%	150.3K	-1.7M	-17.1K	2.80	67.34	122	341	1,752	1,983
2014-11-18	$39.04	$40.00	27.0%	9.1%	23.2%	10.5%	34.8%	6.4%	0.1%	174.2K	-1.7M	-17.2K	2.78	62.90	141	392	1,729	1,985
2014-11-19	$37.67	$40.00	22.7%	9.3%	25.4%	3.8%	34.7%	7.2%	4.1%	65.0K	-794.1K	-17.2K	0.88	79.72	25	22	1,745	2,031
2014-11-20	$38.07	$40.00	27.6%	9.1%	24.7%	11.5%	34.2%	4.1%	0.0%	45.6K	-666.0K	-16.8K	2.83	75.18	149	421	1,607	2,011
2014-11-21	$38.04	$40.00	27.6%	9.1%	24.1%	11.5%	34.8%	6.0%	0.2%	-33.0K	-472.0K	-16.3K	3.24	73.49	130	421	1,632	2,017
2014-11-24	$38.89	$40.00	27.1%	8.7%	25.2%	10.6%	33.6%	9.5%	-0.3%	-25.4K	227.6K	-15.3K	0.06	69.87	127	7	755	1,803
2014-11-25	$39.60	$40.00	25.6%	8.9%	23.0%	8.3%	33.5%	7.0%	0.5%	7.5K	-333.9K	-15.6K	2.66	62.69	147	391	843	1,804
2014-11-26	$39.68	$40.00	25.3%	8.7%	23.0%	7.8%	0.0%	1.8%	0.5%	7.4K	-387.2K	-15.7K	0.00	72.16	21	0	855	1,825
2014-11-28	$39.56	$40.00	26.5%	8.9%	22.5%	9.8%	0.0%	0.3%	-0.4%	7.4K	-310.9K	-15.4K	1.58	82.70	19	30	850	1,825