MANH Options History — January 2025

In January 2025, MANH traded between $209.23 and $295.63. ATM implied volatility averaged 36.4%, placing in the 51.4% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded below realized volatility by 3.5% (HV 20d: 39.9%). Max pain ranged from $220.00 to $300.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 1.86.

Notable Days

2025-01-29: Highest Volume — 5,126 contracts
2025-01-29: Largest IV drop — 29.3% change
2025-01-28: Highest IV Rank — 91.4%
2025-01-28: Largest Expected Move — 14.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$267.04	$209.23	$295.63	$268.05	$209.23
Max Pain	$285.00	$220.00	$300.00	$280.00	$220.00
ATM IV	36.4%	28.1%	49.1%	29.8%	32.3%
Expected Move	10.9%	8.0%	14.1%	8.5%	9.3%
HV 20d	39.9%	23.5%	103.4%	32.2%	103.4%
HV 60d	39.0%	32.3%	66.2%	34.9%	66.2%
IV Rank	51.4%	25.2%	91.4%	30.6%	38.5%
IV Percentile	81.4%	55.2%	99.6%	68.3%	77.4%
Term Structure	-3.2%	-9.5%	10.2%	7.7%	-0.7%
VWIV	38.8%	28.4%	51.5%	29.8%	34.5%
Skew 25d	1.7%	-1.3%	3.5%	1.5%	-1.3%
Skew 10d	3.1%	-3.3%	9.8%	2.6%	-1.8%
Call IV 25d	37.8%	27.9%	48.5%	29.3%	34.1%
Put IV 25d	39.5%	29.4%	51.8%	30.8%	32.8%
Bid-Ask Spread %	65.32	52.40	90.89	90.74	52.40
Gamma HHI	0.28	0.15	0.38	0.30	0.16
Net GEX	209.8K	-256.5K	505.3K	256.0K	505.3K
Net DEX	257.5K	-7.7M	30.2M	58.1K	786.2K
Net VEX	-35.9K	-49.1K	-18.0K	-35.2K	-49.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.86	0.05	11.50	11.50	0.30
Total Volume	566.65	8	5,126	25	1,998
Total OI	1,834	1,104	4,683	1,572	4,683

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
2025-01-02	$268.05	$280.00	29.8%	8.5%	32.2%	30.6%	29.8%	1.5%	7.7%	256.0K	58.1K	-35.2K	11.50	90.74	2	23	1,063	509
2025-01-03	$272.88	$280.00	28.1%	8.0%	32.1%	25.2%	28.4%	1.5%	10.2%	352.8K	-1.2M	-37.3K	0.44	90.89	9	4	1,065	531
2025-01-06	$269.66	$300.00	30.6%	11.0%	32.2%	33.2%	40.1%	1.8%	-5.0%	218.5K	463.8K	-32.9K	1.44	65.23	9	13	1,066	533
2025-01-07	$266.93	$300.00	30.5%	10.8%	32.1%	32.8%	38.1%	1.1%	-4.2%	160.4K	1.1M	-32.6K	0.80	59.26	20	16	1,071	543
2025-01-08	$271.98	$300.00	30.1%	10.9%	33.1%	31.7%	38.2%	1.8%	-4.0%	247.4K	-342.5K	-34.6K	0.33	65.86	6	2	1,090	551
2025-01-10	$264.71	$300.00	33.6%	11.4%	34.1%	42.7%	39.1%	2.1%	-4.1%	58.8K	2.0M	-30.4K	0.12	63.10	106	13	1,091	550
2025-01-13	$265.07	$290.00	36.4%	11.3%	33.0%	51.4%	41.0%	3.5%	-4.5%	59.4K	1.6M	-29.6K	1.43	64.84	14	20	1,153	540
2025-01-14	$270.96	$290.00	38.6%	11.6%	31.1%	58.1%	41.0%	1.7%	-4.6%	116.7K	-113.1K	-32.1K	1.31	62.97	29	38	1,159	557
2025-01-15	$275.47	$290.00	38.8%	11.1%	28.2%	58.9%	39.7%	1.8%	-5.3%	156.3K	-1.7M	-32.6K	0.67	63.22	24	16	1,171	578
2025-01-16	$275.81	$290.00	38.7%	11.1%	27.8%	58.6%	37.9%	2.1%	-4.0%	29.1K	-1.2M	-32.1K	0.05	66.76	495	25	1,177	585
2025-01-17	$273.17	$290.00	38.8%	11.1%	27.4%	59.0%	39.8%	2.8%	-5.9%	138.0K	-1.4M	-35.6K	0.39	69.02	36	14	1,266	589
2025-01-21	$280.59	$290.00	39.8%	11.4%	24.2%	62.0%	39.7%	2.6%	-5.4%	262.1K	-3.6M	-37.2K	0.81	63.84	21	17	770	334
2025-01-22	$282.66	$290.00	40.6%	11.7%	24.1%	64.7%	41.6%	1.8%	-5.1%	275.1K	-4.2M	-38.9K	2.68	63.87	31	83	783	350
2025-01-23	$283.51	$290.00	40.5%	11.6%	23.5%	64.3%	40.1%	2.0%	-5.6%	283.2K	-4.4M	-39.9K	0.14	66.16	14	2	797	375
2025-01-24	$288.25	$290.00	41.0%	11.8%	24.1%	65.9%	42.9%	2.2%	-5.0%	327.0K	-5.6M	-40.7K	7.50	66.48	12	90	804	377
2025-01-27	$287.87	$290.00	44.1%	12.6%	24.1%	75.5%	44.1%	2.5%	-7.6%	299.6K	-5.3M	-41.4K	0.48	57.94	50	24	807	421
2025-01-28	$295.63	$290.00	49.1%	14.1%	25.7%	91.4%	51.5%	3.3%	-9.5%	334.9K	-7.7M	-42.2K	5.86	61.48	204	1,195	807	424
2025-01-29	$223.95	$290.00	34.8%	10.0%	102.7%	46.2%	35.1%	0.3%	-1.0%	-256.5K	30.2M	-18.0K	0.65	58.08	3,107	2,019	952	1,515
2025-01-30	$214.44	$240.00	31.7%	9.1%	103.4%	36.7%	33.7%	-0.4%	-0.4%	371.5K	5.5M	-44.4K	0.27	54.30	1,206	326	3,050	993
2025-01-31	$209.23	$220.00	32.3%	9.3%	103.4%	38.5%	34.5%	-1.3%	-0.7%	505.3K	786.2K	-49.1K	0.30	52.40	1,540	458	3,873	810