MANH Options History — January 2015

In January 2015, MANH traded between $38.53 and $45.99. ATM implied volatility averaged 38.9%, placing in the 28.9% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded below realized volatility by 0.0% (HV 20d: 39.0%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 7 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 1.15.

Notable Days

2015-01-09: Highest Volume — 806 contracts
2015-01-12: Largest IV spike — 144.5% change
2015-01-12: Highest IV Rank — 73.8%
2015-01-28: Largest Expected Move — 13.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.47	$38.53	$45.99	$39.87	$44.63
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	38.9%	27.9%	68.1%	29.6%	41.8%
Expected Move	10.9%	9.9%	13.3%	10.5%	12.0%
HV 20d	39.0%	27.9%	41.9%	31.7%	41.9%
HV 60d	31.0%	27.1%	32.2%	27.6%	32.1%
IV Rank	28.9%	11.9%	73.8%	14.5%	33.3%
IV Percentile	81.6%	34.9%	99.6%	50.0%	92.1%
Term Structure	-3.5%	-12.4%	6.3%	6.3%	-8.2%
VWIV	39.7%	36.0%	47.6%	38.8%	43.6%
Skew 25d	4.9%	-6.4%	14.8%	-6.4%	6.6%
Skew 10d	9.3%	-12.0%	44.6%	-10.9%	16.1%
Call IV 25d	38.0%	34.1%	44.3%	38.6%	40.9%
Put IV 25d	42.8%	32.2%	49.3%	32.2%	47.5%
Bid-Ask Spread %	91.57	86.52	110.81	86.58	93.13
Gamma HHI	0.51	0.43	0.72	0.60	0.45
Net GEX	11.4K	-70.6K	270.5K	-53.3K	-12.2K
Net DEX	-1.3M	-3.0M	954.1K	101.4K	-867.7K
Net VEX	-13.2K	-16.4K	-9.4K	-16.1K	-11.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.15	0.00	2.14	2.14	1.49
Total Volume	240.55	6	806	301	199
Total OI	3,202.15	2,625	3,880	3,301	2,698

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
2015-01-02	$39.87	$40.00	29.6%	10.5%	31.7%	14.5%	38.8%	-6.4%	6.3%	-53.3K	101.4K	-16.1K	2.14	86.58	96	205	1,088	2,213
2015-01-05	$39.69	$40.00	32.7%	10.7%	31.0%	19.3%	37.5%	5.5%	-1.5%	-44.6K	224.5K	-16.0K	1.54	88.35	39	60	1,112	2,234
2015-01-06	$38.53	$40.00	34.1%	10.4%	27.9%	21.5%	38.8%	3.4%	-1.4%	-70.6K	954.1K	-16.4K	0.59	87.08	115	68	1,114	2,284
2015-01-07	$41.37	$40.00	34.2%	10.5%	37.2%	21.6%	36.2%	4.9%	-1.9%	-42.6K	-947.1K	-15.2K	1.47	88.81	93	137	1,158	2,335
2015-01-08	$43.44	$40.00	33.8%	10.0%	40.2%	21.0%	37.1%	4.2%	-2.7%	8.6K	-1.7M	-15.2K	0.48	87.23	542	262	1,154	2,398
2015-01-09	$43.72	$40.00	27.9%	9.9%	40.1%	11.9%	37.4%	3.5%	-1.4%	78.8K	-2.4M	-15.8K	0.44	89.22	558	248	1,394	2,413
2015-01-12	$42.93	$40.00	68.1%	10.2%	40.7%	73.8%	41.8%	3.0%	-2.0%	28.6K	-1.9M	-15.0K	1.64	87.88	107	175	1,412	2,413
2015-01-13	$43.26	$40.00	43.0%	10.5%	40.5%	35.2%	36.7%	0.6%	-2.1%	69.1K	-2.6M	-13.5K	0.75	92.64	236	176	1,397	2,414
2015-01-14	$43.77	$40.00	37.7%	10.8%	40.6%	26.9%	42.8%	-2.4%	-4.4%	54.7K	-2.7M	-14.1K	1.66	91.02	104	173	1,466	2,414
2015-01-15	$43.04	$40.00	37.3%	10.7%	40.6%	26.4%	40.1%	1.2%	-3.8%	36.9K	-2.0M	-14.2K	1.43	86.52	121	173	1,407	2,427
2015-01-16	$44.48	$40.00	35.7%	10.2%	41.0%	23.9%	36.0%	3.8%	-2.1%	270.5K	-3.0M	-12.3K	0.08	91.06	64	5	1,425	2,427
2015-01-20	$45.04	$40.00	39.2%	11.2%	40.7%	29.2%	39.1%	11.3%	-9.6%	-19.8K	-908.4K	-12.0K	2.00	95.61	2	4	668	1,957
2015-01-21	$43.78	$40.00	39.1%	11.2%	40.6%	29.1%	40.2%	4.0%	-2.5%	-27.9K	-613.7K	-12.9K	0.00	87.17	14	0	670	1,960
2015-01-22	$44.49	$40.00	36.9%	10.6%	40.4%	25.8%	38.9%	7.3%	-1.4%	-18.6K	-785.6K	-12.0K	1.52	88.81	69	105	676	1,960
2015-01-23	$45.23	$40.00	37.8%	10.8%	40.3%	27.1%	40.0%	7.6%	-4.7%	-7.5K	-1.2M	-10.9K	1.33	92.81	85	113	678	1,960
2015-01-26	$45.99	$40.00	39.8%	11.4%	40.4%	30.2%	39.1%	5.1%	-3.7%	-2.6K	-1.4M	-10.1K	0.18	93.66	50	9	680	1,968
2015-01-27	$45.95	$40.00	43.7%	12.5%	40.5%	36.3%	42.2%	14.8%	-12.4%	-1.4K	-1.5M	-9.7K	1.25	98.74	4	5	709	1,974
2015-01-28	$44.78	$40.00	46.6%	13.3%	41.9%	40.6%	47.6%	11.1%	-5.1%	-12.8K	-1.0M	-11.5K	1.37	110.81	87	119	709	1,979
2015-01-29	$45.39	$40.00	39.7%	11.4%	41.2%	30.0%	40.4%	8.1%	-5.2%	-6.3K	-1.4M	-9.4K	1.70	94.25	70	119	719	1,979
2015-01-30	$44.63	$40.00	41.8%	12.0%	41.9%	33.3%	43.6%	6.6%	-8.2%	-12.2K	-867.7K	-11.6K	1.49	93.13	80	119	719	1,979