MANH Options History — July 2016

In July 2016, MANH traded between $58.14 and $67.32. ATM implied volatility averaged 33.4%, placing in the 16.8% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded below realized volatility by 2.0% (HV 20d: 35.4%). Max pain ranged from $60.00 to $65.00. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 1.26.

Notable Days

2016-07-19: Highest Volume — 4,832 contracts
2016-07-11: Largest IV spike — 36.8% change
2016-07-18: Highest IV Rank — 31.4%
2016-07-06: Largest Expected Move — 11.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$62.41	$58.14	$67.32	$64.42	$58.14
Max Pain	$63.50	$60.00	$65.00	$65.00	$65.00
ATM IV	33.4%	27.8%	39.6%	29.8%	29.1%
Expected Move	10.0%	8.3%	11.6%	8.5%	8.3%
HV 20d	35.4%	30.5%	40.6%	30.6%	31.3%
HV 60d	34.8%	27.8%	42.2%	40.4%	27.8%
IV Rank	16.8%	4.2%	31.4%	9.7%	4.6%
IV Percentile	34.0%	2.0%	71.0%	11.1%	5.6%
Term Structure	-0.9%	-5.8%	7.5%	7.5%	0.0%
VWIV	36.8%	28.4%	45.3%	30.0%	28.4%
Skew 25d	3.9%	0.1%	7.3%	0.1%	1.8%
Skew 10d	6.8%	-1.8%	21.1%	-0.4%	-1.8%
Call IV 25d	34.8%	28.8%	39.4%	32.0%	30.5%
Put IV 25d	38.8%	32.1%	44.0%	32.1%	32.4%
Bid-Ask Spread %	75.28	65.30	97.59	97.59	86.95
Gamma HHI	0.31	0.19	0.61	0.34	0.31
Net GEX	-3.4K	-386.4K	580.3K	203.2K	-386.4K
Net DEX	742.9K	-5.0M	6.0M	-2.2M	5.9M
Net VEX	-24.9K	-38.4K	-16.1K	-21.3K	-28.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.26	0.39	3.01	1.49	1.41
Total Volume	1,155.2	515	4,832	1,181	595
Total OI	5,965.95	3,188	6,674	5,964	6,572

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
2016-07-01	$64.42	$65.00	29.8%	8.5%	30.6%	9.7%	30.0%	0.1%	7.5%	203.2K	-2.2M	-21.3K	1.49	97.59	474	707	3,586	2,378
2016-07-05	$63.68	$60.00	33.0%	11.3%	30.5%	16.8%	37.7%	7.2%	-1.1%	131.6K	-1.5M	-19.2K	0.49	74.81	470	232	3,589	2,380
2016-07-06	$66.16	$65.00	33.0%	11.6%	33.7%	16.8%	40.0%	3.4%	-2.5%	371.7K	-3.6M	-21.1K	0.42	72.78	470	198	3,589	2,405
2016-07-07	$66.49	$65.00	33.9%	11.5%	33.7%	18.7%	40.1%	5.3%	-1.5%	343.7K	-3.4M	-20.6K	0.45	70.09	437	198	3,675	2,401
2016-07-08	$67.32	$65.00	27.8%	11.1%	33.7%	5.4%	39.8%	4.2%	-0.5%	580.3K	-5.0M	-20.5K	0.54	76.55	411	221	3,678	2,401
2016-07-11	$66.79	$65.00	38.1%	11.1%	33.2%	28.0%	42.3%	5.9%	-0.2%	426.1K	-4.0M	-18.5K	0.50	73.45	409	206	3,679	2,376
2016-07-12	$63.78	$65.00	38.0%	10.6%	37.1%	27.9%	39.6%	7.3%	-0.4%	101.1K	-1.0M	-16.4K	0.42	72.71	683	285	3,654	2,377
2016-07-13	$62.44	$60.00	39.6%	11.4%	37.8%	31.4%	39.7%	4.4%	-1.5%	-36.1K	-237.3K	-16.1K	0.39	72.64	536	210	3,730	2,417
2016-07-14	$63.42	$60.00	37.9%	10.9%	38.3%	27.5%	45.3%	5.8%	-0.6%	6.5K	-801.2K	-17.3K	2.47	78.31	489	1,207	3,756	2,449
2016-07-15	$63.28	$60.00	37.2%	10.7%	38.2%	26.1%	43.1%	5.4%	-0.4%	17.2K	-89.1K	-20.9K	3.01	76.79	479	1,444	3,743	2,931
2016-07-18	$63.89	$60.00	39.6%	11.4%	38.3%	31.4%	40.3%	5.6%	-5.8%	-48.1K	348.8K	-24.6K	1.44	72.01	472	679	1,324	1,864
2016-07-19	$62.95	$60.00	38.8%	11.1%	38.2%	29.6%	41.0%	5.0%	-4.2%	-8.9K	10.1K	-26.5K	1.68	66.32	1,803	3,029	1,693	1,903
2016-07-20	$61.44	$65.00	35.0%	10.0%	39.0%	21.2%	35.0%	1.1%	-4.9%	-114.8K	1.7M	-38.4K	1.42	65.30	1,365	1,941	2,714	3,294
2016-07-21	$59.33	$65.00	30.7%	8.8%	40.6%	11.7%	31.8%	2.2%	-0.3%	-176.3K	3.8M	-35.2K	1.16	69.59	238	277	3,227	3,066
2016-07-22	$59.89	$65.00	29.2%	8.4%	39.1%	5.6%	29.2%	3.1%	0.5%	-172.7K	3.5M	-33.1K	1.73	72.58	220	380	3,258	3,083
2016-07-25	$58.30	$65.00	30.0%	8.6%	34.7%	6.9%	35.9%	1.0%	-0.2%	-321.9K	6.0M	-29.4K	1.61	69.25	227	366	3,291	3,188
2016-07-26	$58.91	$65.00	29.7%	8.5%	34.1%	6.2%	33.4%	2.7%	-1.1%	-304.4K	5.0M	-31.2K	1.63	75.57	220	358	3,307	3,224
2016-07-27	$58.75	$65.00	29.6%	8.5%	33.8%	5.8%	32.7%	4.5%	-0.8%	-336.7K	5.4M	-30.7K	1.49	81.88	236	352	3,334	3,219
2016-07-28	$58.79	$65.00	28.9%	8.3%	32.4%	4.2%	30.5%	2.8%	0.1%	-343.2K	5.2M	-29.6K	1.50	80.54	232	348	3,344	3,220
2016-07-29	$58.14	$65.00	29.1%	8.3%	31.3%	4.6%	28.4%	1.8%	0.0%	-386.4K	5.9M	-28.4K	1.41	86.95	247	348	3,351	3,221