CSGS Options History — June 2013

In June 2013, CSGS traded between $20.20 and $21.97. ATM implied volatility averaged 23.6%, placing in the 6.2% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded below realized volatility by 5.7% (HV 20d: 29.3%). Max pain ranged from $22.50 to $22.50. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 1.08.

Notable Days

2013-06-07: Highest Volume — 696 contracts
2013-06-10: Largest IV spike — 106.9% change
2013-06-10: Highest IV Rank — 15.9%
2013-06-04: Largest Expected Move — 10.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.27	$20.20	$21.97	$20.76	$21.78
Max Pain	$22.50	$22.50	$22.50	$22.50	$22.50
ATM IV	23.6%	15.9%	37.6%	29.7%	19.9%
Expected Move	6.5%	4.5%	10.1%	8.5%	5.7%
HV 20d	29.3%	25.7%	31.4%	27.9%	26.4%
HV 60d	26.7%	25.9%	27.4%	25.9%	26.5%
IV Rank	6.2%	0.9%	15.9%	10.4%	3.6%
IV Percentile	24.2%	0.8%	62.7%	46.8%	11.5%
Term Structure	2.0%	-16.2%	13.8%	-16.2%	13.8%
VWIV	20.9%	14.2%	23.0%	22.8%	23.0%
Skew 25d	-1.0%	-10.4%	12.6%	-6.6%	5.7%
Skew 10d	4.2%	-6.6%	26.1%	4.3%	0.4%
Call IV 25d	22.1%	14.5%	36.7%	26.0%	14.5%
Put IV 25d	21.0%	13.4%	33.5%	19.4%	20.1%
Bid-Ask Spread %	69.57	23.65	141.67	125.60	57.28
Gamma HHI	0.44	0.40	0.60	0.50	0.42
Net GEX	5.4K	-12.1K	24.0K	-3.2K	15.9K
Net DEX	54.8K	-118.9K	260.0K	103.0K	-54.5K
Net VEX	-2.6K	-4.2K	-164	-242	-3.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.08	0.00	4.79	1.00	4.79
Total Volume	63.15	0	696	0	0
Total OI	960.9	213	1,323	213	1,323

Daily Data (20 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
2013-06-03	$20.76	$22.50	29.7%	8.5%	27.9%	10.4%	0.0%	-6.6%	-16.2%	-3.2K	103.0K	-242	0.00	125.60	N/A	N/A	0	0	126	87
2013-06-04	$20.61	$22.50	35.4%	10.1%	28.0%	14.3%	0.0%	-5.0%	-14.1%	-2.2K	103.5K	-255	0.00	141.67	N/A	N/A	0	0	126	87
2013-06-05	$20.20	$22.50	25.8%	7.4%	28.4%	7.7%	0.0%	4.4%	-1.3%	-3.4K	128.4K	-168	0.00	32.64	N/A	N/A	0	0	126	87
2013-06-06	$20.77	$22.50	24.5%	7.0%	29.6%	6.8%	0.0%	12.6%	6.0%	-2.7K	119.5K	-192	0.00	110.05	N/A	N/A	0	0	126	87
2013-06-07	$20.98	$22.50	18.2%	5.6%	29.9%	2.4%	22.8%	1.4%	8.9%	-3.7K	118.8K	-164	1.00	23.65	N/A	N/A	348	348	126	87
2013-06-10	$21.11	$22.50	37.6%	6.4%	30.0%	15.9%	14.2%	-3.8%	-7.4%	-5.8K	173.8K	-2.8K	1.00	125.69	N/A	N/A	50	50	474	435
2013-06-11	$20.87	$22.50	23.2%	5.4%	30.2%	5.9%	22.9%	0.5%	8.4%	-12.1K	260.0K	-2.8K	1.00	78.03	N/A	N/A	50	50	524	485
2013-06-12	$20.74	$22.50	23.2%	5.7%	30.1%	5.9%	19.2%	8.3%	7.3%	-10.7K	240.0K	-3.1K	1.00	100.87	N/A	N/A	50	50	574	535
2013-06-13	$21.26	$22.50	23.0%	6.6%	31.4%	5.8%	0.0%	0.9%	1.4%	-4.1K	166.8K	-3.3K	0.00	34.98	N/A	N/A	28	0	624	585
2013-06-14	$21.39	$22.50	18.3%	5.2%	31.0%	2.5%	22.3%	0.7%	3.2%	4.6K	82.0K	-3.4K	2.00	37.48	N/A	N/A	8	16	651	585
2013-06-17	$21.61	$22.50	21.0%	6.0%	30.8%	4.4%	21.6%	-3.7%	2.0%	14.1K	-9.6K	-3.3K	0.00	43.61	N/A	N/A	18	0	659	601
2013-06-18	$21.97	$22.50	20.6%	5.9%	31.3%	4.2%	0.0%	-1.6%	4.2%	23.1K	-118.9K	-3.2K	0.00	47.12	N/A	N/A	0	0	677	601
2013-06-19	$21.82	$22.50	22.4%	6.4%	31.4%	5.4%	0.0%	-2.5%	1.9%	22.7K	-100.3K	-3.4K	0.00	41.56	N/A	N/A	0	0	677	601
2013-06-20	$21.42	$22.50	21.1%	6.0%	30.8%	4.5%	0.0%	-5.4%	4.0%	9.7K	45.8K	-3.2K	0.00	42.92	N/A	N/A	0	0	677	601
2013-06-21	$21.57	$22.50	22.7%	6.5%	30.2%	5.6%	23.0%	-4.7%	1.6%	13.6K	-18.9K	-3.2K	0.00	46.36	N/A	N/A	52	0	677	579
2013-06-24	$21.39	$22.50	25.2%	7.2%	30.4%	7.3%	0.0%	-10.4%	0.2%	10.3K	-17.7K	-3.4K	0.00	106.05	N/A	N/A	6	0	613	565
2013-06-25	$21.64	$22.50	21.5%	6.2%	25.7%	4.8%	0.0%	-7.0%	2.6%	15.9K	-55.2K	-3.1K	4.79	49.78	N/A	N/A	24	115	619	565
2013-06-26	$21.53	$22.50	15.9%	4.5%	25.7%	0.9%	0.0%	-1.5%	9.6%	2.8K	152	-4.2K	0.00	81.11	N/A	N/A	0	0	643	680
2013-06-27	$21.91	$22.50	22.8%	6.5%	26.3%	5.6%	0.0%	-3.0%	3.6%	24.0K	-69.5K	-3.9K	0.00	64.91	N/A	N/A	0	0	643	680
2013-06-28	$21.78	$22.50	19.9%	5.7%	26.4%	3.6%	0.0%	5.7%	13.8%	15.9K	-54.5K	-3.9K	0.00	57.28	N/A	N/A	0	0	643	680