MANH Options History — December 2025

In December 2025, MANH traded between $170.06 and $180.04. ATM implied volatility averaged 32.6%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 8.8% (HV 20d: 23.8%). Max pain ranged from $185.00 to $195.00. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 1.50.

Notable Days

  • 2025-12-09: Highest Volume — 1,162 contracts
  • 2025-12-09: Largest IV drop — 11.3% change
  • 2025-12-01: Highest IV Rank — 19.6%
  • 2025-12-01: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$175.77$170.06$180.04$177.19$173.34
Max Pain$191.59$185.00$195.00$190.00$185.00
ATM IV32.6%29.0%36.7%36.7%29.7%
Expected Move9.4%8.3%10.5%10.5%8.5%
HV 20d23.8%20.0%28.3%28.3%20.1%
HV 60d29.9%29.1%30.4%30.3%29.8%
IV Rank13.0%7.2%19.6%19.6%8.4%
IV Percentile37.8%13.9%57.5%57.5%17.9%
Term Structure7.0%-2.7%14.2%-1.2%14.2%
VWIV33.7%26.9%41.5%36.5%26.9%
Skew 25d3.0%-2.0%4.4%3.0%3.3%
Skew 10d8.4%-1.5%19.3%11.7%2.1%
Call IV 25d31.8%28.7%35.9%35.9%29.7%
Put IV 25d34.9%29.0%38.9%38.9%33.0%
Bid-Ask Spread %82.2673.6090.2982.1390.29
Gamma HHI0.200.090.270.090.24
Net GEX80.1K-88.6K179.2K-88.6K145.9K
Net DEX-8.1M-13.8M2.5M2.2M-13.0M
Net VEX-48.0K-66.8K-13.8K-16.6K-60.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.500.007.000.181.80
Total Volume70.13611,1625214
Total OI1,876.2731,2542,4431,2551,882

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$177.19$190.0036.7%10.5%28.3%19.6%36.5%3.0%-1.2%-88.6K2.2M-16.6K0.1882.13448643612
2025-12-02$177.91$190.0035.2%10.1%28.3%17.2%35.9%2.7%-2.7%-71.0K1.9M-17.4K0.0082.9060670615
2025-12-03$178.65$190.0035.1%10.1%27.4%17.0%35.4%3.4%-0.4%-69.1K1.9M-16.9K0.5785.172112676617
2025-12-04$178.43$195.0034.8%10.2%26.2%16.5%0.0%3.3%3.8%-79.3K2.0M-16.3K0.8675.5776667620
2025-12-05$180.04$195.0033.0%9.7%23.6%13.7%34.9%3.6%5.4%-75.6K1.8M-16.3K0.0073.60260674623
2025-12-08$176.84$195.0036.5%9.9%24.5%19.4%41.5%4.4%5.4%-68.3K2.5M-14.2K1.5782.64711686623
2025-12-09$175.18$195.0032.4%9.7%24.7%12.8%29.4%3.4%5.0%-66.3K1.7M-13.8K0.0177.171,15012689565
2025-12-10$175.32$195.0033.9%9.7%24.5%15.2%31.4%3.8%5.5%142.8K-12.5M-66.8K0.0879.742421,829558
2025-12-11$172.67$195.0032.8%9.4%25.1%13.4%34.0%3.4%6.1%135.4K-11.7M-64.5K0.8377.87651,842558
2025-12-12$175.02$195.0032.1%9.2%25.6%12.3%31.2%4.2%6.2%131.5K-12.0M-66.6K1.4080.68571,846581
2025-12-15$170.06$195.0033.8%9.7%26.8%15.1%34.7%3.6%4.8%111.9K-10.1M-65.3K1.5078.58231,847580
2025-12-16$174.69$195.0032.2%9.2%23.5%12.4%35.6%3.7%5.8%149.2K-11.8M-64.7K0.1577.312641,848580
2025-12-17$176.72$195.0032.6%9.4%23.8%13.1%30.8%2.8%5.6%179.2K-13.1M-62.1K7.0080.26171,856582
2025-12-18$176.91$190.0032.7%9.4%23.8%13.2%32.8%3.7%9.4%147.9K-12.9M-62.4K1.7582.41471,856587
2025-12-19$175.20$190.0031.0%8.9%22.8%10.5%31.2%4.1%10.6%154.1K-12.7M-63.1K6.3384.233191,860559
2025-12-22$175.99$190.0030.5%8.7%21.9%9.6%31.3%-2.0%12.3%167.3K-13.8M-61.0K0.5089.33841,527298
2025-12-23$174.04$190.0030.4%8.7%22.3%9.6%37.7%2.8%11.1%165.8K-13.2M-62.3K0.0083.08041,535299
2025-12-24$175.81$190.0031.2%8.9%20.1%10.8%0.0%2.4%10.6%169.6K-13.6M-62.1K0.0085.70301,535299
2025-12-26$176.16$190.0029.0%8.3%20.0%7.2%31.6%1.4%13.2%163.6K-13.7M-60.4K0.4486.37941,536299
2025-12-29$176.06$185.0030.9%8.9%20.0%10.3%30.6%2.7%11.4%164.2K-13.8M-59.6K5.1086.0710511,538301
2025-12-30$174.65$185.0030.4%8.7%20.0%9.6%40.4%3.3%12.6%151.6K-13.3M-61.8K0.0088.56011,548332
2025-12-31$173.34$185.0029.7%8.5%20.1%8.4%26.9%3.3%14.2%145.9K-13.0M-60.9K1.8090.29591,548334