MANH Options History — September 2025

In September 2025, MANH traded between $204.94 and $218.41. ATM implied volatility averaged 30.8%, placing in the 10.2% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 4.5% (HV 20d: 26.3%). Max pain ranged from $200.00 to $210.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.86.

Notable Days

  • 2025-09-16: Highest Volume — 163 contracts
  • 2025-09-16: Largest IV spike — 8.9% change
  • 2025-09-23: Highest IV Rank — 14.4%
  • 2025-09-23: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$212.83$204.94$218.41$209.03$204.94
Max Pain$200.95$200.00$210.00$210.00$200.00
ATM IV30.8%28.5%33.4%29.5%31.9%
Expected Move8.8%8.1%9.6%8.4%9.1%
HV 20d26.3%23.5%29.5%28.5%23.5%
HV 60d27.9%27.4%28.7%28.0%28.0%
IV Rank10.2%6.5%14.4%8.0%11.9%
IV Percentile41.3%21.8%57.5%32.9%47.2%
Term Structure9.2%-0.0%14.7%0.8%14.7%
VWIV31.6%28.3%35.6%29.4%32.3%
Skew 25d2.7%1.1%4.7%3.5%2.0%
Skew 10d6.5%1.2%13.5%6.3%6.2%
Call IV 25d30.0%28.1%31.9%28.7%30.6%
Put IV 25d32.7%30.3%36.6%32.2%32.5%
Bid-Ask Spread %83.8076.8091.4076.8084.88
Gamma HHI0.250.190.410.250.41
Net GEX-212.8K-401.4K9.3K-362.3K-391.0K
Net DEX-4.8M-6.8M-1.7M-2.2M-2.4M
Net VEX-38.2K-48.1K-30.9K-46.8K-34.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.007.750.480.15
Total Volume36.23881634015
Total OI2,451.4762,1262,6112,5372,261

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$209.03$210.0029.5%8.4%28.5%8.0%29.4%3.5%0.8%-362.3K-2.2M-46.8K0.4876.8027131,0101,527
2025-09-03$207.60$210.0029.2%8.4%28.5%7.7%31.0%2.7%-0.0%-388.1K-1.7M-48.1K0.0479.582511,0261,530
2025-09-04$208.06$200.0028.5%8.3%28.5%6.5%32.0%3.5%8.6%-401.4K-1.7M-46.5K0.0078.640121,0361,531
2025-09-05$214.61$200.0028.9%8.1%29.5%7.1%28.9%1.3%8.5%-225.7K-4.7M-42.2K0.4684.791361,0361,535
2025-09-08$218.41$200.0029.0%8.4%28.3%7.3%31.7%3.9%8.5%-118.5K-5.9M-42.6K0.4482.481881,0491,539
2025-09-09$215.74$200.0028.8%8.2%28.7%6.9%30.2%3.5%8.9%-174.5K-5.6M-39.1K0.1485.29711,0591,531
2025-09-10$212.71$200.0030.5%8.7%25.7%9.7%30.0%2.8%7.2%-266.9K-4.4M-40.8K0.3977.471871,0631,531
2025-09-11$218.12$200.0028.8%8.2%25.3%6.9%28.3%3.3%8.1%-80.9K-6.5M-39.7K0.0084.46801,0641,532
2025-09-12$216.28$200.0029.5%8.5%25.2%8.2%0.0%2.6%8.1%-121.7K-6.1M-38.1K0.2082.741021,0661,532
2025-09-15$211.21$200.0030.4%8.7%26.5%9.6%30.6%2.2%8.9%-285.3K-4.0M-39.5K0.8482.0419161,0741,530
2025-09-16$213.47$200.0033.1%9.5%26.8%14.0%32.7%3.0%6.3%-191.8K-4.9M-37.6K0.0784.67153101,0731,538
2025-09-17$214.56$200.0032.5%9.3%26.8%13.0%35.3%3.3%6.5%-121.2K-5.6M-35.9K0.5680.1518109801,531
2025-09-18$217.39$200.0032.4%9.3%26.4%12.7%32.4%2.2%9.6%9.3K-6.8M-35.8K0.3383.831249871,530
2025-09-19$215.34$200.0030.9%8.9%26.6%10.4%31.1%1.4%12.5%-182.1K-6.2M-33.9K0.3383.4643149951,532
2025-09-22$215.46$200.0031.3%9.0%25.1%11.1%31.0%1.2%11.2%-133.0K-6.5M-30.9K0.0091.407707971,329
2025-09-23$213.81$200.0033.4%9.6%25.0%14.4%32.1%1.1%12.1%-134.0K-6.2M-33.5K3.0089.98398731,329
2025-09-24$212.62$200.0032.4%9.3%24.9%12.7%33.5%2.5%11.7%-172.6K-5.7M-33.4K7.7587.444318751,337
2025-09-25$210.04$200.0032.3%9.3%24.3%12.7%31.3%3.8%12.9%-251.5K-4.1M-35.6K0.3685.621458781,345
2025-09-26$211.72$200.0030.9%8.9%24.5%10.3%35.6%2.6%14.4%-201.1K-5.1M-34.2K1.5086.9210158901,349
2025-09-29$208.36$200.0032.6%9.3%24.3%13.0%32.4%4.7%12.7%-275.5K-4.0M-33.6K0.2687.1182218961,355
2025-09-30$204.94$200.0031.9%9.1%23.5%11.9%32.3%2.0%14.7%-391.0K-2.4M-34.0K0.1584.881328881,373