Yes, its bent. It should be parallel with the cogs on the cassette. Stay away from the hammer, that won't help and will probably do more damage. There is a proper tool for fixing this that threads into the hanger and your local bike shop probably has one. I have had success with using an adjustable wrench closed up tightly against the sides of the hanger and slowly bending it back. Depending on the type of material the hanger is made from, it may just snap off. In that case the frame is trashed, because it doesn't look like a replaceable hanger, unless your ok with using one of these http://problemsolversbike.com/produc...ailleur_hanger