MANH Options History — January 2016

In January 2016, MANH traded between $54.77 and $64.85. ATM implied volatility averaged 48.3%, placing in the 66.8% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded above realized volatility by 13.9% (HV 20d: 34.4%). Max pain ranged from $60.00 to $70.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 1.82.

Notable Days

2016-01-15: Highest Volume — 3,073 contracts
2016-01-07: Largest IV spike — 25.6% change
2016-01-29: Highest IV Rank — 83.5%
2016-01-29: Largest Expected Move — 14.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$57.55	$54.77	$64.85	$64.66	$56.85
Max Pain	$61.58	$60.00	$70.00	$70.00	$60.00
ATM IV	48.3%	38.1%	57.1%	39.4%	51.6%
Expected Move	13.3%	11.5%	14.8%	11.5%	14.8%
HV 20d	34.4%	26.4%	40.6%	29.4%	40.6%
HV 60d	34.6%	32.3%	37.3%	33.6%	33.3%
IV Rank	66.8%	31.9%	83.5%	34.7%	83.5%
IV Percentile	95.5%	83.3%	99.6%	88.1%	98.8%
Term Structure	-5.4%	-11.1%	3.6%	-4.0%	-10.0%
VWIV	48.9%	40.3%	54.6%	40.6%	50.6%
Skew 25d	3.9%	0.5%	6.2%	3.6%	5.9%
Skew 10d	6.1%	-1.1%	12.9%	4.4%	11.6%
Call IV 25d	46.0%	39.0%	52.6%	39.0%	48.9%
Put IV 25d	49.9%	42.6%	56.5%	42.6%	54.8%
Bid-Ask Spread %	69.78	54.49	85.86	63.61	85.86
Gamma HHI	0.30	0.18	0.89	0.28	0.18
Net GEX	-289.3K	-2.1M	44.0K	-110.3K	44.0K
Net DEX	8.0M	3.1M	14.0M	3.5M	5.6M
Net VEX	-40.2K	-47.9K	-32.8K	-42.7K	-47.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.82	0.51	5.50	0.69	1.08
Total Volume	1,783.737	860	3,073	1,070	2,076
Total OI	9,446.211	6,146	12,002	10,765	8,386

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
2016-01-04	$64.66	$70.00	39.4%	11.5%	29.4%	34.7%	40.6%	3.6%	-4.0%	-110.3K	3.5M	-42.7K	0.69	63.61	635	435	5,728	5,037
2016-01-05	$64.85	$65.00	38.1%	11.6%	26.4%	31.9%	41.7%	2.1%	-4.0%	-81.8K	3.1M	-44.3K	0.84	54.49	468	392	5,882	5,124
2016-01-06	$62.57	$65.00	40.1%	11.7%	27.9%	36.4%	42.6%	4.3%	-4.3%	-230.9K	5.6M	-43.2K	1.35	61.39	473	637	5,980	5,134
2016-01-07	$60.02	$65.00	50.4%	12.8%	29.0%	59.8%	40.3%	0.5%	-5.0%	-339.2K	7.8M	-44.9K	1.75	63.51	480	840	6,092	5,255
2016-01-08	$56.33	$65.00	57.1%	12.7%	33.3%	74.9%	46.2%	5.4%	3.6%	-466.5K	11.8M	-36.4K	0.59	66.29	1,028	608	6,148	5,128
2016-01-11	$56.90	$60.00	53.8%	13.0%	34.3%	67.4%	46.2%	4.5%	-6.9%	-497.7K	12.6M	-36.3K	0.79	66.32	905	714	6,696	4,971
2016-01-12	$56.43	$60.00	57.0%	12.8%	33.0%	74.6%	47.4%	2.4%	-5.0%	-499.3K	12.2M	-36.4K	1.07	69.52	815	876	6,988	5,006
2016-01-13	$54.77	$60.00	46.4%	13.3%	32.7%	67.7%	50.0%	2.3%	-5.7%	-509.2K	14.0M	-33.0K	0.51	73.57	688	349	7,030	4,935
2016-01-14	$56.34	$60.00	50.7%	14.6%	35.0%	80.8%	54.6%	3.3%	-11.1%	-493.2K	11.8M	-36.4K	1.39	76.07	480	665	7,063	4,939
2016-01-15	$54.97	$60.00	45.1%	12.9%	33.2%	63.7%	49.4%	3.0%	-5.2%	-2.1M	13.6M	-32.8K	2.12	71.09	984	2,089	7,085	4,866
2016-01-19	$55.07	$60.00	46.5%	13.3%	33.7%	68.0%	49.2%	1.7%	-4.3%	-35.9K	6.5M	-36.0K	4.26	70.19	364	1,550	3,498	2,648
2016-01-20	$55.83	$60.00	46.8%	13.4%	34.9%	68.9%	54.0%	5.9%	-3.2%	-14.8K	5.7M	-40.8K	5.50	69.36	303	1,668	3,554	2,652
2016-01-21	$56.38	$60.00	48.7%	14.0%	35.7%	74.5%	54.1%	4.7%	-4.2%	-30.0K	5.9M	-39.1K	4.17	60.27	425	1,772	3,569	2,771
2016-01-22	$58.14	$60.00	44.1%	12.7%	38.6%	60.8%	50.4%	5.7%	-3.6%	-22.4K	5.1M	-43.5K	3.17	72.42	419	1,327	3,622	2,976
2016-01-25	$56.24	$60.00	50.6%	14.5%	39.2%	80.4%	50.6%	6.2%	-7.8%	-35.9K	6.0M	-43.0K	1.93	73.25	688	1,331	3,921	3,178
2016-01-26	$56.19	$60.00	51.5%	14.8%	39.1%	83.2%	52.8%	1.2%	-8.1%	-45.4K	6.4M	-41.7K	1.14	70.94	1,369	1,557	3,956	3,216
2016-01-27	$55.34	$60.00	50.6%	14.5%	39.2%	80.3%	53.9%	5.3%	-6.4%	-21.9K	7.2M	-42.9K	1.18	81.50	1,103	1,300	4,651	3,444
2016-01-28	$55.56	$60.00	49.6%	14.2%	38.8%	77.4%	54.1%	5.5%	-7.1%	-15.1K	7.1M	-43.3K	1.09	76.09	994	1,084	4,795	3,554
2016-01-29	$56.85	$60.00	51.6%	14.8%	40.6%	83.5%	50.6%	5.9%	-10.0%	44.0K	5.6M	-47.9K	1.08	85.86	997	1,079	4,820	3,566