MANH Straddle Strategy
MANH (Manhattan Associates, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions. The company also provides inventory optimization, planning, and allocation solutions; maintenance services comprising customer support services and software enhancements; professional services, such as solutions planning and implementation, and related consulting services; and training and change management services. In addition, it resells computer hardware, radio frequency terminal networks, radio frequency identification chip readers, bar code printers and scanners, and other peripherals. The company offers products through direct sales personnel, as well as through partnership agreements with various organizations. It serves grocery, food and beverage, manufacturing, medical and pharmaceutical, retail, third-party logistics, and wholesale industries.
MANH (Manhattan Associates, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $7.43B, a trailing P/E of 34.59, a beta of 0.95 versus the broader market, a 52-week range of 119.06-247.22, average daily share volume of 719K, a public-listing history dating back to 1998, approximately 5K full-time employees. These structural characteristics shape how MANH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.95 places MANH roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a straddle on MANH?
A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration.
Current MANH snapshot
As of May 15, 2026, spot at $131.06, ATM IV 53.00%, IV rank 61.45%, expected move 15.19%. The straddle on MANH below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this straddle structure on MANH specifically: MANH IV at 53.00% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 15.19% (roughly $19.91 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MANH expiries trade a higher absolute premium for lower per-day decay. Position sizing on MANH should anchor to the underlying notional of $131.06 per share and to the trader's directional view on MANH stock.
MANH straddle setup
The MANH straddle below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With MANH near $131.06, the first option leg uses a $130.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MANH chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 MANH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $130.00 | $9.00 |
| Buy 1 | Put | $130.00 | $7.85 |
MANH straddle risk and reward
- Net Premium / Debit
- -$1,685.00
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- -$1,644.36
- Breakeven(s)
- $113.15, $146.85
- Risk / Reward Ratio
- Unbounded
Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit.
MANH straddle payoff curve
Modeled P&L at expiration across a range of underlying prices for the straddle on MANH. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | +$11,314.00 |
| $28.99 | -77.9% | +$8,416.30 |
| $57.96 | -55.8% | +$5,518.60 |
| $86.94 | -33.7% | +$2,620.90 |
| $115.92 | -11.6% | -$276.79 |
| $144.89 | +10.6% | -$195.51 |
| $173.87 | +32.7% | +$2,702.19 |
| $202.85 | +54.8% | +$5,599.89 |
| $231.83 | +76.9% | +$8,497.59 |
| $260.80 | +99.0% | +$11,395.29 |
When traders use straddle on MANH
Straddles on MANH are pure-volatility plays that profit from large moves in either direction; traders typically buy MANH straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
MANH thesis for this straddle
The market-implied 1-standard-deviation range for MANH extends from approximately $111.15 on the downside to $150.97 on the upside. A MANH long straddle is a pure-volatility play: it profits when the underlying moves far enough from the strike in either direction to overcome the combined call plus put debit, regardless of direction. Current MANH IV rank near 61.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the straddle thesis on MANH should anchor more to the directional view and the expected-move geometry. As a Technology name, MANH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MANH-specific events.
MANH straddle positions are structurally neutral / high-volatility (long premium); the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. MANH positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MANH alongside the broader basket even when MANH-specific fundamentals are unchanged. Always rebuild the position from current MANH chain quotes before placing a trade.
Frequently asked questions
- What is a straddle on MANH?
- A straddle on MANH is the straddle strategy applied to MANH (stock). The strategy is structurally neutral / high-volatility (long premium): A long straddle buys an ATM call and an ATM put at the same strike, profiting from a large move in either direction; max loss equals the combined debit when the underlying pins to the strike at expiration. With MANH stock trading near $131.06, the strikes shown on this page are snapped to the nearest listed MANH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MANH straddle max profit and max loss calculated?
- Upside max profit is unbounded; downside max profit is bounded at the strike minus the combined call plus put debit (reached at zero). Max loss equals the combined debit times 100 (reached when the underlying pins to the strike). Two breakevens at strike plus debit and strike minus debit. For the MANH straddle priced from the end-of-day chain at a 30-day expiry (ATM IV 53.00%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$1,644.36 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MANH straddle?
- The breakeven for the MANH straddle priced on this page is roughly $113.15 and $146.85 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current MANH market-implied 1-standard-deviation expected move is approximately 15.19%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a straddle on MANH?
- Straddles on MANH are pure-volatility plays that profit from large moves in either direction; traders typically buy MANH straddles ahead of earnings, FDA decisions, or other catalysts where the realized move is expected to exceed the implied move priced into the chain.
- How does current MANH implied volatility affect this straddle?
- MANH ATM IV is at 53.00% with IV rank near 61.45%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.