MANH Options History — January 2019

In January 2019, MANH traded between $41.47 and $48.81. ATM implied volatility averaged 42.1%, placing in the 28.3% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 11.8% (HV 20d: 30.3%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 4.05.

Notable Days

2019-01-04: Highest Volume — 205 contracts
2019-01-04: Largest IV drop — 18.3% change
2019-01-31: Highest IV Rank — 37.0%
2019-01-24: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.15	$41.47	$48.81	$41.98	$48.81
Max Pain	$46.67	$40.00	$50.00	$45.00	$45.00
ATM IV	42.1%	34.3%	48.6%	42.0%	48.6%
Expected Move	12.2%	10.5%	13.7%	12.0%	10.5%
HV 20d	30.3%	23.3%	36.3%	31.3%	23.3%
HV 60d	34.1%	31.0%	36.2%	36.0%	31.0%
IV Rank	28.3%	17.8%	37.0%	28.1%	37.0%
IV Percentile	79.4%	59.9%	96.0%	78.2%	96.0%
Term Structure	-5.3%	-10.5%	2.7%	2.7%	-1.0%
VWIV	43.0%	36.7%	58.7%	41.8%	40.9%
Skew 25d	6.8%	-2.6%	12.9%	7.0%	6.5%
Skew 10d	15.1%	-1.1%	34.2%	16.2%	16.0%
Call IV 25d	40.4%	35.2%	48.3%	36.5%	35.2%
Put IV 25d	47.3%	41.7%	54.4%	43.5%	41.7%
Bid-Ask Spread %	73.31	61.65	85.52	61.65	68.96
Gamma HHI	0.51	0.34	0.69	0.42	0.34
Net GEX	24.5K	-1.8K	39.8K	6.7K	25.5K
Net DEX	-542.3K	-1.1M	606.1K	465.0K	-991.7K
Net VEX	-3.9K	-4.6K	-3.3K	-3.3K	-3.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.05	0.00	18.00	5.00	1.18
Total Volume	39.81	0	205	84	37
Total OI	1,061.524	584	1,365	1,214	681

Daily Data (21 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
2019-01-02	$41.98	$45.00	42.0%	12.0%	31.3%	28.1%	41.8%	7.0%	2.7%	6.7K	465.0K	-3.3K	5.00	61.65	14	70	840	374
2019-01-03	$41.47	$40.00	43.3%	13.2%	31.0%	29.9%	43.3%	8.2%	-4.2%	-1.8K	606.1K	-3.6K	4.80	63.74	15	72	841	418
2019-01-04	$42.54	$40.00	35.4%	11.5%	33.1%	19.2%	40.4%	12.9%	-3.2%	4.8K	425.1K	-3.7K	1.66	80.93	77	128	841	420
2019-01-07	$43.42	$45.00	36.9%	11.8%	34.5%	21.3%	38.1%	7.9%	-3.1%	13.3K	126.8K	-4.5K	8.00	69.09	4	32	903	435
2019-01-08	$44.65	$45.00	34.3%	11.6%	36.3%	17.8%	38.1%	6.2%	-3.5%	25.8K	-213.1K	-4.6K	4.00	68.92	8	32	907	443
2019-01-09	$45.08	$45.00	40.4%	11.6%	35.3%	25.9%	36.8%	7.0%	-4.6%	29.3K	-325.7K	-4.5K	4.25	68.34	8	34	903	436
2019-01-10	$45.22	$45.00	39.9%	11.5%	35.3%	25.3%	36.7%	7.6%	-3.1%	32.8K	-364.3K	-4.4K	0.88	69.67	8	7	906	436
2019-01-11	$45.52	$45.00	39.7%	11.4%	34.6%	25.0%	38.6%	6.7%	-4.5%	38.1K	-471.9K	-4.2K	1.63	68.87	8	13	906	433
2019-01-14	$45.16	$45.00	40.5%	11.6%	34.7%	26.1%	0.0%	6.0%	-4.2%	39.8K	-368.9K	-4.1K	0.00	76.07	0	0	907	440
2019-01-15	$46.55	$45.00	40.4%	11.6%	35.4%	26.0%	42.2%	6.5%	-4.2%	37.0K	-824.1K	-3.8K	0.25	73.82	4	1	907	440
2019-01-16	$46.89	$45.00	41.5%	11.9%	31.9%	27.4%	38.3%	6.6%	-5.3%	30.0K	-984.6K	-3.6K	4.75	71.10	4	19	907	440
2019-01-17	$47.48	$50.00	43.4%	12.4%	32.1%	30.0%	39.4%	4.8%	-7.1%	27.0K	-998.9K	-3.7K	3.80	80.81	5	19	907	456
2019-01-18	$48.53	$50.00	39.3%	11.3%	31.6%	24.5%	40.1%	-2.6%	-3.7%	22.5K	-1.1M	-3.7K	0.40	80.78	10	4	908	457
2019-01-22	$47.88	$50.00	42.1%	12.1%	32.0%	28.2%	40.2%	9.4%	-7.0%	23.8K	-862.6K	-3.6K	0.00	82.46	27	0	489	95
2019-01-23	$46.95	$50.00	47.4%	13.6%	25.1%	35.5%	58.7%	4.7%	-8.8%	25.0K	-803.3K	-3.7K	0.00	85.52	27	0	516	95
2019-01-24	$47.40	$50.00	47.8%	13.7%	24.8%	35.8%	42.3%	7.3%	-9.2%	25.5K	-828.2K	-3.7K	0.16	76.51	31	5	516	95
2019-01-25	$48.58	$50.00	43.0%	12.3%	23.3%	29.4%	44.7%	6.9%	-7.5%	28.3K	-974.0K	-3.6K	0.28	72.65	46	13	521	96
2019-01-28	$48.22	$50.00	45.9%	13.2%	23.6%	33.4%	51.7%	7.5%	-9.5%	27.9K	-970.4K	-3.9K	12.00	72.86	1	12	542	105
2019-01-29	$48.37	$50.00	46.1%	13.2%	23.6%	33.7%	53.3%	8.1%	-10.0%	27.2K	-967.0K	-3.8K	18.00	71.88	1	18	543	117
2019-01-30	$48.36	$50.00	47.0%	13.5%	23.7%	34.8%	54.1%	7.7%	-10.5%	25.5K	-954.3K	-3.9K	10.00	74.97	2	20	543	127
2019-01-31	$48.81	$45.00	48.6%	10.5%	23.3%	37.0%	40.9%	6.5%	-1.0%	25.5K	-991.7K	-3.8K	1.18	68.96	17	20	544	137