MANH Options History — February 2018

In February 2018, MANH traded between $40.15 and $52.60. ATM implied volatility averaged 43.2%, placing in the 35.1% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded below realized volatility by 18.5% (HV 20d: 61.7%). Max pain ranged from $45.00 to $55.00. Net GEX was positive for 4 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 1.50.

Notable Days

2018-02-22: Highest Volume — 1,839 contracts
2018-02-07: Largest IV drop — 50.4% change
2018-02-01: Highest IV Rank — 100.0%
2018-02-05: Largest Expected Move — 14.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.01	$40.15	$52.60	$52.60	$42.10
Max Pain	$48.95	$45.00	$55.00	$55.00	$45.00
ATM IV	43.2%	23.5%	95.4%	62.9%	33.4%
Expected Move	10.4%	6.7%	14.1%	12.5%	9.6%
HV 20d	61.7%	24.1%	72.7%	24.1%	71.7%
HV 60d	40.1%	18.6%	45.8%	18.6%	45.8%
IV Rank	35.1%	6.4%	100.0%	100.0%	19.2%
IV Percentile	72.2%	7.1%	100.0%	100.0%	67.1%
Term Structure	1.1%	-7.7%	15.3%	-5.4%	3.3%
VWIV	39.0%	26.3%	63.2%	45.3%	31.8%
Skew 25d	4.5%	-3.9%	16.5%	7.9%	2.0%
Skew 10d	7.4%	-8.9%	20.1%	19.8%	1.9%
Call IV 25d	34.7%	27.2%	47.4%	40.7%	31.5%
Put IV 25d	39.2%	31.0%	52.4%	48.6%	33.5%
Bid-Ask Spread %	84.48	66.05	99.81	82.77	99.32
Gamma HHI	0.62	0.35	0.79	0.74	0.56
Net GEX	9.1K	-251.9K	823.1K	823.1K	-51.5K
Net DEX	1.7M	-12.4M	7.6M	-12.4M	2.1M
Net VEX	-20.5K	-42.3K	-7.6K	-42.3K	-7.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.50	0.21	5.35	0.92	5.25
Total Volume	1,020.421	491	1,839	550	1,063
Total OI	7,565.632	2,817	10,133	9,946	2,818

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
2018-02-01	$52.60	$55.00	62.9%	12.5%	24.1%	100.0%	45.3%	7.9%	-5.4%	823.1K	-12.4M	-42.3K	0.92	82.77	286	264	7,023	2,923
2018-02-02	$50.70	$55.00	81.8%	13.3%	25.6%	100.0%	46.6%	4.6%	-5.6%	628.7K	-8.4M	-40.7K	0.71	84.69	479	341	6,953	2,921
2018-02-05	$50.32	$55.00	95.4%	14.1%	25.7%	100.0%	52.1%	6.8%	-7.7%	547.1K	-8.8M	-37.2K	0.52	89.50	658	341	6,838	2,957
2018-02-06	$50.44	$55.00	76.7%	13.2%	24.8%	75.7%	48.8%	2.2%	-4.4%	537.2K	-6.5M	-37.0K	0.46	81.63	1,113	509	6,533	3,058
2018-02-07	$41.84	$55.00	38.0%	10.9%	69.7%	25.3%	34.9%	6.0%	-5.7%	-194.0K	6.7M	-18.4K	1.21	85.68	541	652	6,834	3,287
2018-02-08	$40.15	$50.00	35.7%	10.2%	69.6%	22.2%	36.3%	0.9%	2.7%	-172.9K	7.6M	-18.7K	2.93	84.07	223	653	6,746	3,313
2018-02-09	$41.32	$50.00	37.4%	10.7%	70.7%	24.4%	63.2%	16.5%	10.4%	-188.8K	6.2M	-19.4K	1.09	99.81	329	357	6,781	3,130
2018-02-12	$41.79	$50.00	37.4%	10.7%	70.8%	24.5%	41.4%	3.3%	0.3%	-200.8K	6.2M	-18.1K	0.91	66.05	406	371	6,935	3,118
2018-02-13	$41.45	$50.00	34.5%	9.9%	70.8%	20.6%	34.0%	6.8%	4.1%	-192.4K	6.4M	-17.2K	1.22	86.37	265	322	6,926	3,135
2018-02-14	$42.94	$50.00	33.0%	9.5%	72.7%	18.8%	35.7%	5.4%	1.6%	-207.0K	5.4M	-18.1K	1.06	88.64	285	303	6,983	3,150
2018-02-15	$43.65	$45.00	31.8%	9.1%	72.5%	17.2%	37.1%	2.6%	-0.9%	-251.9K	4.9M	-17.8K	1.53	66.94	194	297	6,926	3,148
2018-02-16	$42.99	$45.00	33.5%	9.6%	72.1%	19.3%	33.8%	-3.9%	-4.8%	-160.2K	5.4M	-16.9K	1.82	94.92	181	329	6,929	3,152
2018-02-20	$42.71	$45.00	23.5%	6.7%	71.8%	6.4%	34.1%	7.9%	8.3%	-155.2K	3.1M	-16.2K	0.21	85.11	859	181	1,123	2,462
2018-02-21	$42.13	$45.00	33.4%	9.6%	71.8%	19.3%	42.2%	1.8%	0.6%	-169.0K	3.6M	-16.4K	0.21	79.02	884	189	1,535	2,481
2018-02-22	$41.86	$45.00	32.6%	9.3%	71.8%	18.2%	26.3%	1.9%	4.6%	-172.7K	3.9M	-16.2K	1.08	74.57	884	955	1,571	2,502
2018-02-23	$42.50	$45.00	33.1%	9.5%	72.4%	18.8%	28.8%	1.7%	1.7%	-98.1K	2.6M	-11.7K	1.04	82.59	884	918	1,571	1,789
2018-02-26	$42.36	$45.00	35.4%	10.1%	71.7%	21.8%	39.0%	3.7%	2.0%	-105.9K	2.7M	-11.2K	0.97	89.55	920	892	1,564	1,815
2018-02-27	$42.42	$45.00	30.5%	8.7%	71.7%	15.4%	29.5%	7.3%	15.3%	-43.0K	1.9M	-8.5K	5.35	83.87	167	893	1,554	1,263
2018-02-28	$42.10	$45.00	33.4%	9.6%	71.7%	19.2%	31.8%	2.0%	3.3%	-51.5K	2.1M	-7.6K	5.25	99.32	170	893	1,554	1,264