CSGS Options History — August 2012

In August 2012, CSGS traded between $17.08 and $21.57. ATM implied volatility averaged 67.9%, placing in the 31.4% IV rank vs the trailing year. The 30-day expected move averaged 17.6%. IV traded above realized volatility by 31.9% (HV 20d: 36.0%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 0.01.

Notable Days

2012-08-14: Highest Volume — 36 contracts
2012-08-17: Largest IV spike — 375.3% change
2012-08-06: Highest IV Rank — 88.8%
2012-08-02: Largest Expected Move — 43.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.76	$17.08	$21.57	$17.08	$21.21
Max Pain	$15.33	$15.00	$17.50	$17.50	$15.00
ATM IV	67.9%	20.5%	159.3%	144.8%	51.2%
Expected Move	17.6%	5.9%	43.0%	41.5%	14.7%
HV 20d	36.0%	21.0%	41.7%	21.0%	37.4%
HV 60d	26.5%	19.9%	28.6%	19.9%	28.3%
IV Rank	31.4%	1.6%	88.8%	79.7%	20.9%
IV Percentile	68.1%	1.2%	99.6%	99.2%	82.1%
Term Structure	-17.2%	-118.1%	50.5%	-106.8%	-27.3%
VWIV	44.6%	17.1%	81.5%	61.2%	81.5%
Skew 25d	12.6%	-36.4%	85.1%	18.3%	4.6%
Skew 10d	33.3%	-49.3%	92.0%	7.8%	92.0%
Call IV 25d	70.0%	20.9%	114.8%	78.7%	59.6%
Put IV 25d	82.6%	22.5%	142.5%	97.0%	64.2%
Bid-Ask Spread %	154.26	130.22	167.80	166.67	153.75
Gamma HHI	0.55	0.34	0.80	0.42	0.47
Net GEX	3.7K	1.3K	6.4K	1.7K	6.4K
Net DEX	-170.3K	-235.6K	-79.2K	-79.2K	-228.5K
Net VEX	-382	-529	-280	-343	-427
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.01	0.00	0.09	0.00	0.00
Total Volume	7	0	36	0	0
Total OI	204.609	179	236	186	235

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2012-08-01	$17.08	$17.50	144.8%	41.5%	21.0%	79.7%	0.0%	18.3%	-106.8%	1.7K	-79.2K	-343	0.00	166.67	N/A	N/A	0	0	111	75
2012-08-02	$17.38	$17.50	150.0%	43.0%	21.8%	82.9%	0.0%	-4.5%	-118.1%	1.3K	-81.0K	-392	0.00	167.74	N/A	N/A	0	0	111	75
2012-08-03	$17.72	$17.50	147.8%	42.4%	22.7%	81.6%	0.0%	2.1%	-104.5%	1.4K	-90.4K	-387	0.00	167.16	N/A	N/A	31	0	111	75
2012-08-06	$17.70	$15.00	159.3%	17.0%	22.6%	88.8%	0.0%	3.7%	29.2%	2.3K	-109.3K	-529	0.00	167.80	N/A	N/A	0	0	142	75
2012-08-07	$17.80	$15.00	39.0%	9.9%	21.9%	13.2%	61.2%	14.2%	1.1%	6.4K	-130.5K	-425	0.00	150.26	N/A	N/A	1	0	142	75
2012-08-08	$19.65	$15.00	56.0%	12.4%	41.2%	23.9%	46.9%	53.0%	-0.9%	3.5K	-201.2K	-438	0.09	154.71	N/A	N/A	11	1	143	75
2012-08-09	$19.46	$15.00	49.6%	13.1%	41.3%	19.9%	49.0%	47.7%	-1.0%	3.3K	-190.7K	-449	0.00	159.11	N/A	N/A	2	0	143	76
2012-08-10	$19.57	$15.00	52.6%	13.6%	41.3%	21.8%	0.0%	85.1%	-2.0%	3.5K	-194.6K	-386	0.00	156.74	N/A	N/A	0	0	141	76
2012-08-13	$19.60	$15.00	30.9%	7.9%	41.3%	8.2%	0.0%	-3.5%	2.4%	3.4K	-214.7K	-305	0.00	130.22	N/A	N/A	0	0	141	76
2012-08-14	$20.00	$15.00	34.4%	6.6%	41.7%	10.4%	0.0%	6.9%	16.9%	3.3K	-224.4K	-301	0.00	145.13	N/A	N/A	36	0	141	76
2012-08-15	$19.96	$15.00	32.8%	6.2%	41.7%	9.3%	0.0%	1.9%	9.7%	3.7K	-155.1K	-280	0.00	151.59	N/A	N/A	0	0	105	76
2012-08-16	$19.99	$15.00	21.6%	6.2%	41.3%	2.3%	0.0%	3.7%	10.2%	3.6K	-155.0K	-281	0.00	156.90	N/A	N/A	4	0	105	76
2012-08-17	$20.00	$15.00	102.8%	29.5%	41.4%	53.3%	0.0%	2.6%	-43.3%	1.7K	-128.8K	-482	0.00	161.33	N/A	N/A	0	0	109	76
2012-08-20	$20.05	$15.00	20.5%	5.9%	39.0%	1.6%	21.8%	-0.8%	14.1%	3.8K	-151.5K	-306	0.00	153.94	N/A	N/A	7	0	104	75
2012-08-21	$20.43	$15.00	20.6%	5.9%	39.0%	1.7%	17.1%	2.6%	19.5%	3.8K	-170.0K	-304	0.00	154.42	N/A	N/A	25	0	111	75
2012-08-22	$20.42	$15.00	26.3%	7.5%	39.0%	5.3%	35.0%	0.4%	9.2%	5.7K	-196.9K	-352	0.00	141.49	N/A	N/A	10	0	132	75
2012-08-23	$20.27	$15.00	67.4%	19.3%	39.4%	31.1%	0.0%	26.9%	40.0%	5.9K	-184.5K	-370	0.00	148.15	N/A	N/A	0	0	131	75
2012-08-24	$20.70	$15.00	63.0%	18.1%	39.4%	28.3%	0.0%	19.0%	50.5%	3.5K	-183.2K	-415	0.00	147.19	N/A	N/A	0	0	131	75
2012-08-27	$21.14	$15.00	80.6%	23.1%	39.5%	39.4%	0.0%	27.7%	-29.0%	3.3K	-190.4K	-403	0.00	158.18	N/A	N/A	2	0	131	75
2012-08-28	$21.57	$15.00	80.7%	23.1%	39.4%	39.4%	0.0%	29.3%	-78.9%	2.7K	-198.3K	-442	0.00	154.87	N/A	N/A	2	0	133	75
2012-08-29	$21.49	$15.00	65.8%	18.9%	36.6%	30.1%	81.5%	-36.4%	-42.6%	4.5K	-223.5K	-342	0.00	146.96	N/A	N/A	29	0	135	75
2012-08-30	$21.26	$15.00	63.7%	18.3%	37.4%	28.8%	0.0%	-13.7%	-44.0%	6.3K	-235.6K	-421	0.00	153.60	N/A	N/A	0	0	161	75
2012-08-31	$21.21	$15.00	51.2%	14.7%	37.4%	20.9%	0.0%	4.6%	-27.3%	6.4K	-228.5K	-427	0.00	153.75	N/A	N/A	0	0	160	75