MANH Options History — February 2025

In February 2025, MANH traded between $174.49 and $201.42. ATM implied volatility averaged 37.4%, placing in the 54.6% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 64.6% (HV 20d: 102.0%). Max pain ranged from $190.00 to $210.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.46.

Notable Days

2025-02-10: Highest Volume — 3,024 contracts
2025-02-10: Largest IV spike — 20.9% change
2025-02-27: Highest IV Rank — 71.7%
2025-02-27: Largest Expected Move — 12.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$186.01	$174.49	$201.42	$201.42	$174.49
Max Pain	$197.89	$190.00	$210.00	$210.00	$190.00
ATM IV	37.4%	30.9%	42.9%	34.2%	41.1%
Expected Move	10.7%	8.9%	12.3%	9.8%	11.8%
HV 20d	102.0%	50.9%	111.3%	103.8%	50.9%
HV 60d	68.5%	65.1%	70.0%	66.5%	69.0%
IV Rank	54.6%	34.2%	71.7%	44.6%	66.3%
IV Percentile	84.1%	71.8%	94.0%	79.8%	91.7%
Term Structure	-0.2%	-2.1%	1.7%	-0.2%	-1.2%
VWIV	38.4%	33.0%	42.8%	36.0%	41.2%
Skew 25d	1.5%	-0.6%	3.7%	0.1%	2.8%
Skew 10d	2.8%	-3.9%	6.8%	-3.9%	6.8%
Call IV 25d	37.5%	32.2%	41.8%	35.1%	40.1%
Put IV 25d	38.9%	32.6%	44.0%	35.1%	42.9%
Bid-Ask Spread %	67.50	56.99	75.41	57.65	71.73
Gamma HHI	0.11	0.09	0.15	0.15	0.10
Net GEX	-79.4K	-548.9K	552.4K	552.4K	-314.5K
Net DEX	8.7M	-2.2M	21.2M	1.5M	14.5M
Net VEX	-110.5K	-140.3K	-61.0K	-61.0K	-109.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.46	0.06	1.20	1.09	0.74
Total Volume	780.895	127	3,024	2,211	155
Total OI	8,708	5,923	11,219	5,923	6,920

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
2025-02-03	$201.42	$210.00	34.2%	9.8%	103.8%	44.6%	36.0%	0.1%	-0.2%	552.4K	1.5M	-61.0K	1.09	57.65	1,058	1,153	4,969	954
2025-02-04	$197.51	$210.00	32.0%	9.2%	103.1%	37.5%	34.6%	-0.6%	0.7%	147.8K	6.6M	-96.4K	0.45	59.76	649	291	5,469	1,994
2025-02-05	$199.96	$210.00	30.9%	8.9%	103.6%	34.2%	33.0%	0.4%	0.9%	234.9K	5.1M	-101.8K	0.21	64.07	253	54	5,695	2,171
2025-02-06	$197.85	$210.00	31.6%	9.4%	103.6%	36.4%	33.9%	0.4%	0.9%	70.9K	6.7M	-100.7K	0.21	61.18	422	89	5,780	2,198
2025-02-07	$200.56	$200.00	32.5%	9.4%	103.4%	39.3%	33.5%	0.8%	-0.4%	357.0K	2.8M	-106.9K	0.06	61.11	457	26	5,816	2,189
2025-02-10	$177.68	$200.00	39.3%	10.8%	110.0%	60.6%	38.6%	-0.5%	-1.5%	-548.9K	21.2M	-78.6K	0.34	56.99	2,258	766	5,952	2,205
2025-02-11	$177.99	$195.00	38.1%	11.3%	110.0%	56.8%	39.4%	3.7%	-1.9%	-216.2K	15.8M	-100.5K	0.98	68.54	1,170	1,151	6,958	2,372
2025-02-12	$181.43	$195.00	39.5%	11.3%	109.9%	61.1%	40.3%	1.3%	-0.3%	-96.7K	10.7M	-124.4K	0.19	67.95	772	146	7,413	3,098
2025-02-13	$187.36	$195.00	38.4%	11.0%	110.7%	57.8%	39.2%	2.1%	0.1%	149.5K	2.8M	-136.0K	0.17	68.66	867	146	7,732	3,181
2025-02-14	$191.01	$195.00	37.4%	10.7%	111.3%	54.6%	38.0%	2.2%	1.7%	202.4K	-2.2M	-140.3K	0.16	67.95	499	79	7,666	3,213
2025-02-18	$187.25	$195.00	37.9%	10.9%	111.3%	56.2%	39.5%	2.1%	0.6%	-130.0K	3.9M	-126.8K	0.08	72.18	520	40	7,668	3,231
2025-02-19	$184.07	$195.00	36.6%	10.5%	110.0%	52.1%	37.2%	-0.4%	0.6%	-324.4K	8.5M	-123.0K	1.20	73.05	209	250	7,806	3,246
2025-02-20	$185.48	$195.00	36.5%	10.5%	110.0%	51.8%	37.4%	1.4%	0.6%	-149.8K	6.6M	-122.6K	0.83	71.15	82	68	7,947	3,257
2025-02-21	$181.02	$195.00	38.3%	11.0%	109.6%	57.5%	39.8%	2.5%	1.0%	-437.6K	10.9M	-119.6K	0.48	75.41	268	128	7,958	3,261
2025-02-24	$176.70	$195.00	40.3%	11.6%	108.6%	63.7%	41.5%	2.9%	-0.4%	-296.6K	14.2M	-109.5K	0.27	72.29	257	69	4,168	2,460
2025-02-25	$178.74	$195.00	41.9%	12.0%	109.1%	68.7%	42.1%	2.2%	-2.1%	-193.0K	10.9M	-116.7K	0.40	72.42	91	36	4,361	2,438
2025-02-26	$178.19	$190.00	41.6%	11.9%	107.8%	67.6%	40.9%	3.0%	-1.7%	-228.9K	11.5M	-114.5K	0.31	70.14	144	44	4,418	2,449
2025-02-27	$175.45	$190.00	42.9%	12.3%	52.2%	71.7%	42.8%	1.8%	-1.9%	-287.3K	13.2M	-111.6K	0.50	70.26	113	57	4,374	2,465
2025-02-28	$174.49	$190.00	41.1%	11.8%	50.9%	66.3%	41.2%	2.8%	-1.2%	-314.5K	14.5M	-109.7K	0.74	71.73	89	66	4,453	2,467