MANH Options History — December 2017

In December 2017, MANH traded between $43.70 and $50.10. ATM implied volatility averaged 25.8%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 11.8% (HV 20d: 13.9%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 5.10.

Notable Days

2017-12-01: Highest Volume — 2,467 contracts
2017-12-13: Largest IV drop — 15.4% change
2017-12-04: Highest IV Rank — 34.5%
2017-12-04: Largest Expected Move — 8.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.54	$43.70	$50.10	$44.22	$49.54
Max Pain	$45.00	$45.00	$45.00	$45.00	$45.00
ATM IV	25.8%	21.5%	31.6%	27.4%	21.5%
Expected Move	7.2%	6.2%	8.2%	7.9%	6.2%
HV 20d	13.9%	11.7%	17.6%	11.7%	17.6%
HV 60d	33.3%	26.7%	34.5%	34.1%	26.7%
IV Rank	18.9%	7.5%	34.5%	23.4%	7.5%
IV Percentile	24.7%	1.2%	62.3%	42.9%	1.2%
Term Structure	8.4%	-0.4%	15.1%	-0.4%	15.1%
VWIV	25.8%	21.8%	32.9%	32.9%	21.8%
Skew 25d	4.4%	-0.2%	10.0%	-0.2%	7.5%
Skew 10d	8.6%	-8.9%	15.8%	-4.5%	12.4%
Call IV 25d	23.8%	15.9%	32.0%	32.0%	17.3%
Put IV 25d	28.1%	24.8%	33.1%	31.7%	24.8%
Bid-Ask Spread %	51.21	13.79	86.05	19.94	66.52
Gamma HHI	0.37	0.33	0.41	0.39	0.37
Net GEX	50.6K	-134.3K	135.8K	-134.3K	97.5K
Net DEX	-1.8M	-5.3M	2.3M	2.3M	-4.9M
Net VEX	-21.2K	-25.9K	-14.2K	-20.9K	-14.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	5.10	1.22	12.78	2.01	1.93
Total Volume	1,004.25	222	2,467	2,467	255
Total OI	4,138	3,665	4,570	3,715	3,785

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
2017-12-01	$44.22	$45.00	27.4%	7.9%	11.7%	23.4%	32.9%	-0.2%	-0.4%	-134.3K	2.3M	-20.9K	2.01	19.94	820	1,647	1,252	2,463
2017-12-04	$44.78	$45.00	31.6%	8.2%	12.1%	34.5%	28.0%	6.5%	4.4%	591	89.1K	-25.0K	9.92	80.26	166	1,647	1,987	2,456
2017-12-05	$44.38	$45.00	31.1%	8.1%	12.2%	33.0%	31.5%	1.0%	2.8%	-8.1K	373.5K	-25.9K	12.78	86.05	128	1,636	2,076	2,456
2017-12-06	$43.70	$45.00	27.8%	7.9%	14.0%	24.4%	28.8%	2.5%	4.7%	-18.0K	1.1M	-25.1K	11.13	79.85	147	1,636	2,086	2,457
2017-12-07	$44.18	$45.00	26.6%	7.5%	14.3%	21.3%	26.8%	4.9%	5.6%	-14.2K	635.6K	-25.2K	11.26	67.41	148	1,667	2,113	2,457
2017-12-08	$45.00	$45.00	26.1%	7.3%	15.2%	19.7%	24.7%	3.5%	6.7%	-4.4K	-344.3K	-24.5K	10.38	22.59	157	1,630	2,109	2,436
2017-12-11	$45.29	$45.00	29.9%	7.4%	15.1%	29.9%	26.5%	4.8%	6.5%	-11.3K	-708.9K	-23.8K	11.03	20.95	149	1,643	2,094	2,434
2017-12-12	$45.55	$45.00	30.5%	7.4%	15.1%	31.6%	25.8%	4.5%	7.6%	-5.0K	-956.7K	-23.6K	6.47	81.07	254	1,643	2,095	2,432
2017-12-13	$45.83	$45.00	25.8%	7.4%	15.1%	19.1%	26.0%	6.2%	7.7%	700	-1.4M	-22.4K	6.96	42.17	237	1,649	2,087	2,432
2017-12-14	$45.81	$45.00	25.0%	7.2%	13.9%	16.9%	23.8%	4.3%	6.4%	-7.8K	-1.4M	-22.1K	1.71	24.20	82	140	2,087	2,429
2017-12-15	$46.24	$45.00	25.1%	7.2%	13.0%	17.2%	25.4%	3.5%	7.9%	127.9K	-2.0M	-21.7K	1.66	84.17	110	183	2,118	2,430
2017-12-18	$47.10	$45.00	26.0%	7.4%	13.6%	19.5%	25.8%	3.6%	9.1%	119.9K	-2.4M	-20.6K	1.79	13.79	95	170	1,534	2,131
2017-12-19	$47.60	$45.00	22.7%	6.5%	13.5%	10.9%	25.4%	3.1%	11.3%	135.8K	-3.0M	-20.5K	2.68	53.49	79	212	1,565	2,138
2017-12-20	$48.15	$45.00	22.4%	6.4%	13.1%	9.9%	24.1%	4.4%	10.4%	129.6K	-3.3M	-18.9K	1.96	76.80	108	212	1,567	2,180
2017-12-21	$48.20	$45.00	22.8%	6.5%	13.2%	11.0%	24.1%	1.7%	11.9%	133.2K	-3.4M	-18.9K	1.84	69.03	112	206	1,580	2,180
2017-12-22	$48.29	$45.00	22.8%	6.5%	13.1%	11.2%	24.0%	4.7%	11.8%	131.0K	-3.4M	-18.9K	2.18	51.41	88	192	1,580	2,192
2017-12-26	$48.43	$45.00	23.4%	6.7%	13.1%	12.8%	23.4%	6.4%	12.2%	127.8K	-3.5M	-19.1K	1.22	29.96	133	162	1,582	2,193
2017-12-27	$48.49	$45.00	23.6%	6.8%	13.2%	13.2%	23.9%	4.7%	12.5%	125.5K	-3.5M	-18.2K	1.26	34.00	129	162	1,578	2,206
2017-12-28	$50.10	$45.00	22.9%	6.6%	16.4%	11.3%	23.1%	10.0%	12.9%	84.9K	-5.3M	-14.4K	1.82	20.51	89	162	1,577	2,206
2017-12-29	$49.54	$45.00	21.5%	6.2%	17.6%	7.5%	21.8%	7.5%	15.1%	97.5K	-4.9M	-14.2K	1.93	66.52	87	168	1,573	2,212