MANH Options History — February 2015

In February 2015, MANH traded between $43.10 and $51.72. ATM implied volatility averaged 31.4%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded below realized volatility by 8.8% (HV 20d: 40.2%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 2.09.

Notable Days

2015-02-27: Highest Volume — 472 contracts
2015-02-10: Largest IV drop — 26.1% change
2015-02-02: Highest IV Rank — 36.6%
2015-02-02: Largest Expected Move — 12.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.69	$43.10	$51.72	$43.10	$49.99
Max Pain	$44.21	$40.00	$45.00	$40.00	$45.00
ATM IV	31.4%	24.1%	44.0%	44.0%	29.9%
Expected Move	9.1%	6.9%	12.6%	12.6%	8.6%
HV 20d	40.2%	35.6%	47.8%	43.2%	38.3%
HV 60d	36.1%	33.0%	37.1%	33.0%	36.5%
IV Rank	17.3%	6.0%	36.6%	36.6%	15.0%
IV Percentile	53.7%	4.0%	96.4%	96.4%	46.8%
Term Structure	0.2%	-7.4%	10.9%	-7.4%	-0.1%
VWIV	33.2%	24.3%	46.0%	46.0%	30.1%
Skew 25d	3.5%	-7.6%	9.5%	9.5%	-7.6%
Skew 10d	5.3%	-9.3%	32.8%	8.4%	-9.3%
Call IV 25d	32.0%	26.1%	40.6%	40.6%	32.2%
Put IV 25d	35.4%	24.6%	50.1%	50.1%	24.6%
Bid-Ask Spread %	90.74	83.16	101.38	92.71	101.38
Gamma HHI	0.31	0.21	0.47	0.46	0.21
Net GEX	17.4K	-22.4K	35.6K	-22.4K	17.9K
Net DEX	-2.9M	-4.1M	-427.2K	-427.2K	-2.2M
Net VEX	-6.0K	-12.0K	-4.0K	-12.0K	-4.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.09	0.00	3.93	2.13	3.72
Total Volume	262	21	472	147	472
Total OI	2,907.789	2,606	3,179	2,724	2,635

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
2015-02-02	$43.10	$40.00	44.0%	12.6%	43.2%	36.6%	46.0%	9.5%	-7.4%	-22.4K	-427.2K	-12.0K	2.13	92.71	47	100	745	1,979
2015-02-03	$45.22	$45.00	37.0%	10.6%	45.8%	25.9%	37.8%	5.0%	-3.1%	4.4K	-1.3M	-10.6K	1.08	90.51	128	138	755	2,046
2015-02-04	$48.14	$45.00	29.7%	8.5%	47.8%	14.6%	31.0%	5.4%	1.8%	35.6K	-2.9M	-7.3K	1.66	89.94	125	207	838	2,060
2015-02-05	$47.95	$40.00	30.2%	9.0%	42.5%	15.5%	34.0%	2.3%	-0.7%	23.0K	-2.6M	-7.5K	3.93	83.85	58	228	837	2,082
2015-02-06	$48.94	$40.00	28.1%	8.8%	39.9%	12.2%	33.3%	6.0%	-0.2%	22.3K	-2.8M	-7.5K	2.49	87.37	90	224	851	2,111
2015-02-09	$48.37	$45.00	34.4%	9.3%	40.4%	22.0%	35.8%	4.1%	-0.4%	26.6K	-2.7M	-6.6K	2.08	86.52	104	216	853	2,113
2015-02-10	$50.10	$45.00	25.4%	9.2%	40.7%	8.1%	35.7%	5.8%	-0.3%	8.7K	-3.4M	-5.5K	1.81	86.42	123	223	873	2,143
2015-02-11	$49.87	$45.00	31.3%	9.0%	41.0%	17.1%	33.7%	3.7%	-0.2%	24.0K	-3.6M	-4.2K	2.49	89.11	81	202	896	2,150
2015-02-12	$50.69	$45.00	31.7%	9.1%	41.1%	17.8%	32.9%	5.5%	0.1%	21.4K	-3.8M	-4.2K	2.11	83.16	99	209	896	2,156
2015-02-13	$51.65	$45.00	33.0%	9.5%	40.2%	19.7%	33.9%	7.0%	-0.7%	5.1K	-3.7M	-6.3K	2.23	93.12	92	205	923	2,183
2015-02-17	$51.43	$45.00	33.2%	9.5%	39.5%	20.0%	34.1%	2.8%	-1.2%	15.6K	-3.9M	-4.9K	2.12	91.25	92	195	928	2,190
2015-02-18	$51.13	$45.00	33.5%	9.6%	39.7%	20.5%	33.6%	1.6%	0.6%	16.5K	-3.8M	-5.4K	2.03	89.84	98	199	941	2,189
2015-02-19	$50.99	$45.00	32.3%	9.3%	37.7%	18.7%	32.3%	3.0%	-0.3%	21.5K	-3.9M	-5.5K	0.00	90.66	21	0	963	2,216
2015-02-20	$51.33	$45.00	30.0%	8.6%	37.6%	15.2%	0.0%	2.6%	0.2%	25.2K	-4.1M	-4.0K	0.85	93.18	41	35	963	2,216
2015-02-23	$51.09	$45.00	30.4%	8.7%	37.6%	15.8%	31.0%	1.9%	1.1%	23.2K	-2.4M	-4.3K	2.33	85.06	69	161	640	1,966
2015-02-24	$51.10	$45.00	30.7%	8.8%	37.5%	16.2%	31.0%	2.9%	-0.0%	17.4K	-2.2M	-5.2K	2.25	95.66	73	164	646	1,991
2015-02-25	$51.21	$45.00	28.0%	8.0%	37.4%	12.0%	27.6%	3.4%	3.8%	22.0K	-2.4M	-4.1K	2.29	95.55	72	165	641	1,995
2015-02-26	$51.72	$45.00	24.1%	6.9%	35.6%	6.0%	24.3%	0.8%	10.9%	21.8K	-2.5M	-4.0K	2.13	98.77	71	151	643	1,995
2015-02-27	$49.99	$45.00	29.9%	8.6%	38.3%	15.0%	30.1%	-7.6%	-0.1%	17.9K	-2.2M	-4.6K	3.72	101.38	100	372	639	1,996