MANH Options History — December 2018

In December 2018, MANH traded between $40.42 and $49.49. ATM implied volatility averaged 37.4%, placing in the 22.0% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 6.4% (HV 20d: 31.0%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 2.89.

Notable Days

2018-12-07: Highest Volume — 143 contracts
2018-12-10: Largest IV spike — 47.6% change
2018-12-27: Highest IV Rank — 34.5%
2018-12-27: Largest Expected Move — 13.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.82	$40.42	$49.49	$49.49	$42.22
Max Pain	$45.75	$45.00	$50.00	$50.00	$45.00
ATM IV	37.4%	28.0%	46.7%	28.0%	43.2%
Expected Move	10.6%	8.0%	13.4%	8.0%	12.4%
HV 20d	31.0%	25.5%	33.7%	33.7%	31.4%
HV 60d	34.2%	33.1%	36.1%	33.6%	36.1%
IV Rank	22.0%	9.3%	34.5%	9.3%	29.8%
IV Percentile	69.2%	38.9%	87.7%	38.9%	81.0%
Term Structure	2.2%	-2.7%	9.4%	-0.3%	2.1%
VWIV	40.4%	32.7%	51.6%	33.7%	44.3%
Skew 25d	6.1%	4.0%	9.8%	9.8%	6.7%
Skew 10d	12.0%	-0.3%	24.2%	15.6%	21.1%
Call IV 25d	34.7%	23.8%	45.0%	23.8%	37.2%
Put IV 25d	40.8%	33.6%	51.8%	33.6%	43.9%
Bid-Ask Spread %	78.77	64.74	92.15	71.40	67.16
Gamma HHI	0.33	0.27	0.42	0.31	0.42
Net GEX	24.6K	3.7K	59.5K	59.5K	9.0K
Net DEX	-170.0K	-1.4M	791.2K	-1.4M	380.0K
Net VEX	-5.2K	-7.2K	-3.6K	-6.9K	-3.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.89	0.00	11.00	1.45	0.00
Total Volume	41.25	0	143	0	4
Total OI	1,301.2	1,185	1,367	1,367	1,210

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
2018-12-03	$49.49	$50.00	28.0%	8.0%	33.7%	9.3%	0.0%	9.8%	-0.3%	59.5K	-1.4M	-6.9K	0.00	71.40	0	0	959	408
2018-12-04	$48.48	$50.00	29.3%	8.4%	33.3%	11.1%	0.0%	4.0%	-0.6%	52.5K	-1.0M	-6.7K	0.00	76.03	0	0	959	408
2018-12-05	$48.30	$50.00	32.4%	9.3%	33.3%	15.2%	0.0%	4.8%	-2.7%	50.9K	-981.0K	-6.8K	0.00	82.63	0	0	959	408
2018-12-06	$48.12	$45.00	34.0%	9.1%	32.1%	17.4%	33.7%	5.1%	6.5%	48.9K	-944.2K	-7.2K	1.45	79.12	38	55	959	408
2018-12-07	$47.60	$45.00	28.1%	8.9%	32.1%	9.4%	32.9%	5.8%	5.7%	45.4K	-829.4K	-6.7K	0.63	92.15	88	55	937	400
2018-12-10	$46.25	$45.00	41.5%	10.3%	33.2%	27.4%	0.0%	5.0%	3.3%	30.7K	-474.3K	-6.3K	0.00	85.20	0	6	894	400
2018-12-11	$46.09	$45.00	40.3%	9.9%	30.7%	25.8%	0.0%	6.0%	3.5%	26.2K	-324.3K	-5.6K	6.00	81.29	1	6	894	406
2018-12-12	$46.99	$45.00	34.1%	9.8%	31.6%	17.5%	41.5%	4.4%	3.1%	34.5K	-525.4K	-5.6K	11.00	80.53	1	11	895	400
2018-12-13	$46.83	$45.00	34.5%	9.9%	30.9%	18.0%	41.4%	5.3%	3.9%	28.4K	-437.1K	-5.3K	11.00	73.90	1	11	895	405
2018-12-14	$45.70	$45.00	34.3%	9.8%	30.8%	17.7%	34.6%	6.2%	3.7%	21.7K	-195.3K	-5.2K	0.22	73.75	50	11	895	405
2018-12-17	$43.91	$45.00	35.2%	10.1%	32.6%	18.9%	36.8%	6.2%	2.7%	15.3K	106.2K	-4.8K	2.50	64.74	4	10	912	405
2018-12-18	$43.88	$45.00	36.1%	10.3%	26.9%	20.1%	38.4%	5.9%	1.4%	12.2K	161.8K	-4.7K	1.38	77.75	8	11	912	412
2018-12-19	$43.10	$45.00	36.0%	10.3%	26.8%	20.0%	32.7%	4.7%	1.0%	13.6K	136.2K	-5.4K	6.17	85.18	6	37	916	411
2018-12-20	$42.80	$45.00	37.6%	10.8%	25.5%	22.2%	37.6%	5.1%	0.2%	10.0K	438.1K	-4.4K	2.31	80.75	16	37	918	433
2018-12-21	$40.55	$45.00	40.4%	11.6%	29.9%	25.9%	43.5%	7.2%	2.0%	3.7K	791.2K	-3.7K	2.94	78.28	17	50	928	432
2018-12-24	$40.42	$45.00	46.3%	13.3%	29.7%	33.9%	46.9%	6.8%	9.4%	3.8K	543.5K	-3.9K	0.62	85.28	66	41	808	377
2018-12-26	$41.91	$45.00	46.5%	13.3%	33.7%	34.2%	51.6%	7.5%	-0.7%	8.1K	360.3K	-4.0K	0.04	83.13	54	2	843	374
2018-12-27	$41.73	$45.00	46.7%	13.4%	31.2%	34.5%	49.4%	8.6%	-1.1%	8.3K	402.5K	-3.9K	0.03	81.92	62	2	855	373
2018-12-28	$41.94	$45.00	44.2%	12.7%	30.9%	31.0%	44.3%	6.6%	1.6%	8.3K	392.4K	-3.8K	0.03	75.19	62	2	838	373
2018-12-31	$42.22	$45.00	43.2%	12.4%	31.4%	29.8%	0.0%	6.7%	2.1%	9.0K	380.0K	-3.6K	0.00	67.16	4	0	838	372