MANH Options History — January 2017

In January 2017, MANH traded between $49.67 and $55.27. ATM implied volatility averaged 37.1%, placing in the 27.1% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 4.8% (HV 20d: 32.4%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 1.52.

Notable Days

2017-01-31: Highest Volume — 2,938 contracts
2017-01-11: Largest IV spike — 31.3% change
2017-01-31: Highest IV Rank — 54.7%
2017-01-31: Largest Expected Move — 14.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$51.45	$49.67	$55.27	$54.45	$51.46
Max Pain	$51.00	$50.00	$55.00	$55.00	$50.00
ATM IV	37.1%	26.1%	49.9%	26.1%	49.9%
Expected Move	11.1%	7.5%	14.3%	7.5%	14.3%
HV 20d	32.4%	18.5%	36.8%	19.1%	36.8%
HV 60d	30.1%	26.9%	35.3%	31.4%	27.8%
IV Rank	27.1%	3.1%	54.7%	3.1%	54.7%
IV Percentile	60.5%	6.0%	96.8%	6.0%	96.8%
Term Structure	-3.8%	-14.2%	8.9%	8.3%	-14.2%
VWIV	40.0%	30.1%	49.3%	30.5%	49.3%
Skew 25d	3.8%	-1.1%	8.0%	8.0%	5.3%
Skew 10d	7.2%	-3.5%	13.7%	9.3%	10.9%
Call IV 25d	38.5%	26.5%	48.1%	26.5%	48.1%
Put IV 25d	42.4%	34.5%	53.4%	34.5%	53.4%
Bid-Ask Spread %	75.33	52.10	91.80	86.27	52.10
Gamma HHI	0.34	0.21	0.58	0.47	0.58
Net GEX	10.6K	-69.8K	158.3K	76.4K	158.3K
Net DEX	165.2K	-1.3M	1.4M	-391.8K	-1.3M
Net VEX	-7.5K	-10.6K	-5.6K	-7.2K	-10.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.52	0.13	2.74	1.31	0.95
Total Volume	571.1	211	2,938	368	2,938
Total OI	1,976.5	1,231	2,391	1,822	2,371

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
2017-01-03	$54.45	$55.00	26.1%	7.5%	19.1%	3.1%	30.5%	8.0%	8.3%	76.4K	-391.8K	-7.2K	1.31	86.27	159	209	1,183	639
2017-01-04	$55.27	$55.00	26.5%	7.6%	18.9%	3.9%	30.1%	7.1%	8.9%	91.3K	-928.2K	-7.1K	1.67	91.80	114	190	1,187	639
2017-01-05	$54.94	$55.00	26.1%	10.0%	18.5%	3.2%	35.6%	1.5%	-2.2%	86.7K	-692.2K	-7.3K	1.61	69.30	135	217	1,211	640
2017-01-06	$53.96	$55.00	27.7%	10.2%	19.6%	6.7%	36.1%	2.1%	-2.5%	66.4K	-191.1K	-7.5K	1.65	71.17	133	219	1,242	675
2017-01-09	$49.67	$50.00	30.8%	11.3%	35.8%	13.4%	41.1%	4.0%	-2.2%	40	1.2M	-5.6K	2.61	65.20	240	626	1,258	678
2017-01-10	$49.97	$50.00	29.1%	11.0%	35.9%	9.6%	39.8%	5.2%	-3.4%	-34.6K	1.4M	-7.3K	1.77	75.60	194	343	1,297	962
2017-01-11	$50.00	$50.00	38.2%	11.0%	35.8%	29.4%	40.3%	3.5%	-3.5%	-40.7K	980.1K	-7.7K	1.70	60.89	190	323	1,310	981
2017-01-12	$49.94	$50.00	37.8%	10.8%	35.7%	28.4%	39.3%	4.5%	-3.0%	-48.6K	1.1M	-7.7K	1.56	76.73	207	323	1,313	1,000
2017-01-13	$50.51	$50.00	38.1%	10.9%	35.9%	29.2%	39.2%	4.8%	-3.7%	-43.1K	751.4K	-7.7K	1.45	75.24	208	302	1,333	1,000
2017-01-17	$50.38	$50.00	39.4%	11.3%	35.9%	32.0%	41.6%	2.8%	-5.5%	-50.3K	648.5K	-7.0K	2.51	79.19	127	319	1,333	1,003
2017-01-18	$50.47	$50.00	38.5%	11.0%	35.7%	30.0%	41.0%	3.4%	-4.2%	-54.2K	597.6K	-7.0K	2.40	80.27	133	319	1,338	1,009
2017-01-19	$49.75	$50.00	38.9%	11.2%	34.9%	31.0%	41.0%	4.4%	-3.8%	-69.8K	1.1M	-6.8K	2.74	74.99	147	403	1,335	1,011
2017-01-20	$50.17	$50.00	38.6%	11.1%	33.9%	30.2%	39.1%	4.1%	-3.4%	-30.6K	327.3K	-7.0K	1.54	81.08	156	240	1,358	1,033
2017-01-23	$51.03	$50.00	40.3%	11.6%	34.5%	33.9%	39.8%	4.5%	-5.9%	-23.0K	267.8K	-7.0K	1.10	75.65	103	113	545	686
2017-01-24	$52.03	$50.00	39.5%	11.3%	35.3%	32.2%	38.6%	4.6%	-5.3%	-7.1K	-149.3K	-7.1K	1.01	81.48	112	113	599	697
2017-01-25	$52.40	$50.00	42.6%	12.2%	35.3%	38.9%	42.5%	1.5%	-7.5%	4.4K	-329.0K	-7.2K	1.35	75.43	118	159	637	697
2017-01-26	$50.87	$50.00	43.9%	12.6%	36.5%	41.8%	44.3%	-1.1%	-7.5%	-11.4K	124.4K	-7.3K	0.13	83.36	721	96	690	714
2017-01-27	$50.68	$50.00	43.5%	12.5%	36.5%	40.9%	44.3%	2.6%	-5.7%	60.9K	-432.3K	-9.1K	1.03	78.63	104	107	1,226	715
2017-01-30	$51.05	$50.00	47.3%	13.6%	36.7%	49.0%	47.5%	4.1%	-10.8%	81.5K	-670.3K	-9.0K	0.24	72.12	452	110	1,258	727
2017-01-31	$51.46	$50.00	49.9%	14.3%	36.8%	54.7%	49.3%	5.3%	-14.2%	158.3K	-1.3M	-10.6K	0.95	52.10	1,510	1,428	1,639	732