CSGS Options History — June 2012

In June 2012, CSGS traded between $16.10 and $17.28. ATM implied volatility averaged 32.2%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 13.5% (HV 20d: 18.7%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 9 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2012-06-15: Highest Volume — 72 contracts
2012-06-11: Largest IV spike — 100.0% change
2012-06-13: Highest IV Rank — 34.9%
2012-06-01: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.56	$16.10	$17.28	$16.35	$17.28
Max Pain	$15.36	$15.00	$17.50	$17.50	$15.00
ATM IV	32.2%	17.9%	74.4%	33.3%	23.4%
Expected Move	7.3%	5.1%	9.6%	9.6%	6.7%
HV 20d	18.7%	17.3%	20.0%	20.0%	19.6%
HV 60d	28.0%	27.7%	28.5%	27.9%	28.0%
IV Rank	8.2%	0.0%	34.9%	8.9%	3.5%
IV Percentile	30.2%	0.0%	94.4%	46.0%	5.2%
Term Structure	8.1%	-2.4%	17.2%	-2.4%	6.0%
VWIV	25.9%	25.0%	26.7%	25.0%	26.7%
Skew 25d	3.3%	-3.8%	19.1%	3.7%	19.1%
Skew 10d	1.0%	-10.3%	25.1%	-2.2%	25.1%
Call IV 25d	24.4%	15.3%	33.9%	33.9%	28.7%
Put IV 25d	27.7%	21.1%	47.8%	37.6%	47.8%
Bid-Ask Spread %	118.06	107.95	126.33	118.21	115.74
Gamma HHI	0.48	0.32	0.63	0.50	0.62
Net GEX	-5.0K	-13.7K	4.0K	-13.2K	4.0K
Net DEX	51.5K	-80.2K	169.5K	142.3K	-80.2K
Net VEX	-483	-723	-340	-723	-379
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	11.571	0	72	0	0
Total OI	536.286	133	883	863	191

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2012-06-01	$16.35	$17.50	33.3%	9.6%	20.0%	8.9%	0.0%	3.7%	-2.4%	-13.2K	142.3K	-723	118.21	N/A	N/A	0	0	223	640
2012-06-04	$16.39	$0.00	30.5%	8.1%	17.7%	7.0%	0.0%	1.9%	7.5%	-12.9K	139.3K	-632	118.04	N/A	N/A	0	20	223	640
2012-06-05	$16.37	$0.00	34.1%	6.6%	17.3%	9.4%	0.0%	3.3%	8.7%	-13.2K	144.7K	-680	118.73	N/A	N/A	0	0	223	660
2012-06-06	$16.58	$0.00	27.3%	7.7%	17.9%	5.0%	0.0%	3.4%	8.9%	-12.9K	121.4K	-569	117.89	N/A	N/A	0	0	223	660
2012-06-07	$16.53	$0.00	42.1%	8.8%	17.8%	14.4%	0.0%	-3.8%	0.8%	-13.7K	113.2K	-702	122.32	N/A	N/A	0	25	223	660
2012-06-08	$16.47	$0.00	33.9%	6.3%	17.6%	9.2%	0.0%	6.0%	11.6%	-12.0K	115.4K	-556	118.64	N/A	N/A	0	25	223	649
2012-06-11	$16.19	$0.00	67.7%	8.4%	18.6%	30.6%	0.0%	-1.4%	0.3%	-12.3K	155.7K	-576	126.33	N/A	N/A	0	0	223	649
2012-06-12	$16.37	$0.00	45.6%	7.2%	19.0%	16.6%	0.0%	2.5%	6.9%	-11.7K	130.9K	-504	118.78	N/A	N/A	0	0	223	649
2012-06-13	$16.10	$0.00	74.4%	7.8%	18.8%	34.9%	0.0%	-0.7%	5.8%	-10.8K	169.5K	-488	118.99	N/A	N/A	0	0	223	649
2012-06-14	$16.32	$0.00	25.0%	7.2%	19.6%	3.6%	0.0%	1.6%	7.2%	-9.5K	143.5K	-447	110.02	N/A	N/A	0	33	223	649
2012-06-15	$16.22	$0.00	30.8%	8.8%	19.3%	7.2%	0.0%	1.6%	8.9%	-91	153.3K	-377	125.85	N/A	N/A	0	72	223	649
2012-06-18	$16.22	$0.00	27.7%	7.9%	18.6%	5.3%	0.0%	0.9%	10.2%	-122	-15.0K	-367	117.21	N/A	N/A	0	0	58	75
2012-06-19	$16.60	$0.00	23.8%	6.8%	19.4%	2.8%	0.0%	5.4%	9.2%	44	-23.2K	-351	119.99	N/A	N/A	5	0	58	75
2012-06-20	$16.60	$0.00	24.9%	7.1%	18.6%	3.5%	0.0%	1.9%	6.1%	298	-26.1K	-360	120.12	N/A	N/A	0	0	63	75
2012-06-21	$16.69	$0.00	22.8%	6.5%	18.6%	2.2%	25.0%	2.9%	7.0%	345	-27.3K	-358	119.95	N/A	N/A	0	10	63	75
2012-06-22	$17.03	$15.00	26.7%	7.6%	19.6%	4.6%	26.7%	-3.1%	4.0%	326	-36.9K	-340	112.76	N/A	N/A	48	0	63	85
2012-06-25	$16.87	$15.00	21.4%	6.1%	20.0%	1.3%	0.0%	3.9%	13.3%	3.4K	-62.7K	-449	119.69	N/A	N/A	0	0	111	85
2012-06-26	$16.77	$15.00	21.5%	6.2%	18.0%	1.3%	0.0%	4.3%	16.4%	3.1K	-58.4K	-447	111.50	N/A	N/A	5	0	111	85
2012-06-27	$16.90	$15.00	17.9%	5.1%	17.9%	0.0%	0.0%	4.3%	15.4%	3.4K	-62.5K	-417	107.95	N/A	N/A	0	0	106	85
2012-06-28	$16.81	$15.00	20.9%	6.0%	17.7%	1.9%	0.0%	11.8%	17.2%	3.0K	-55.8K	-427	120.58	N/A	N/A	0	0	106	85
2012-06-29	$17.28	$15.00	23.4%	6.7%	19.6%	3.5%	0.0%	19.1%	6.0%	4.0K	-80.2K	-379	115.74	N/A	N/A	0	0	106	85