CSGS Options History — November 2013

In November 2013, CSGS traded between $26.88 and $28.87. ATM implied volatility averaged 34.5%, placing in the 17.4% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded above realized volatility by 12.9% (HV 20d: 21.6%). Max pain ranged from $20.00 to $30.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2013-11-12: Highest Volume — 40 contracts
2013-11-29: Largest IV spike — 72.4% change
2013-11-13: Highest IV Rank — 58.1%
2013-11-05: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.05	$26.88	$28.87	$27.91	$28.87
Max Pain	$21.63	$20.00	$30.00	$30.00	$22.50
ATM IV	34.5%	15.6%	81.0%	37.4%	27.0%
Expected Move	7.9%	4.5%	11.4%	10.7%	7.7%
HV 20d	21.6%	19.7%	23.5%	20.4%	20.6%
HV 60d	19.6%	18.6%	20.7%	18.6%	18.8%
IV Rank	17.4%	0.9%	58.1%	19.9%	10.8%
IV Percentile	54.3%	0.8%	94.0%	79.4%	51.2%
Term Structure	0.7%	-11.1%	9.7%	-0.9%	5.4%
VWIV	24.1%	17.3%	28.0%	26.9%	17.3%
Skew 25d	7.9%	-5.5%	53.0%	8.5%	17.4%
Skew 10d	8.2%	-9.8%	70.3%	-9.8%	16.3%
Call IV 25d	23.8%	14.8%	31.3%	26.1%	16.6%
Put IV 25d	31.7%	18.2%	84.2%	34.6%	34.0%
Bid-Ask Spread %	112.06	21.26	123.15	122.33	123.15
Gamma HHI	0.58	0.49	0.82	0.56	0.56
Net GEX	17.3K	9.4K	28.2K	17.3K	17.1K
Net DEX	-604.2K	-716.7K	-433.2K	-552.2K	-716.7K
Net VEX	-570	-1.1K	-270	-844	-415
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	3.25	0	40	0	0
Total OI	662.25	640	711	667	650

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	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2013-11-01	$27.91	$30.00	37.4%	10.7%	20.4%	19.9%	0.0%	8.5%	-0.9%	17.3K	-552.2K	-844	122.33	N/A	N/A	0	0	301	366
2013-11-04	$27.79	$20.00	28.4%	7.4%	19.7%	12.1%	0.0%	15.7%	4.3%	18.1K	-501.6K	-884	117.22	N/A	N/A	0	0	301	366
2013-11-05	$27.36	$20.00	33.9%	11.4%	20.5%	16.9%	0.0%	16.2%	-10.4%	13.1K	-455.2K	-1.1K	117.47	N/A	N/A	0	0	301	366
2013-11-06	$27.36	$20.00	36.3%	9.9%	19.8%	18.9%	0.0%	5.4%	-11.0%	17.4K	-490.4K	-872	121.25	N/A	N/A	0	0	301	366
2013-11-07	$26.88	$20.00	34.8%	11.2%	20.2%	17.6%	0.0%	15.2%	-11.1%	12.5K	-433.2K	-1.0K	115.55	N/A	N/A	0	0	301	366
2013-11-08	$27.88	$20.00	49.0%	7.9%	21.9%	30.1%	0.0%	11.1%	7.3%	18.2K	-554.8K	-676	116.95	N/A	N/A	0	0	301	366
2013-11-11	$27.61	$20.00	67.0%	8.7%	22.5%	45.8%	0.0%	4.0%	-1.0%	18.4K	-528.1K	-689	118.09	N/A	N/A	0	0	301	366
2013-11-12	$27.75	$20.00	63.6%	8.5%	22.5%	42.8%	26.9%	4.7%	2.8%	23.4K	-574.3K	-484	119.13	N/A	N/A	40	0	301	366
2013-11-13	$28.00	$20.00	81.0%	8.7%	21.9%	58.1%	28.0%	1.8%	1.9%	28.2K	-637.8K	-408	119.90	N/A	N/A	4	0	341	366
2013-11-14	$28.08	$20.00	30.2%	8.7%	21.9%	13.6%	0.0%	2.9%	2.2%	21.8K	-618.6K	-644	118.72	N/A	N/A	0	0	345	366
2013-11-15	$28.32	$20.00	21.6%	6.2%	21.7%	6.1%	17.3%	-5.5%	2.2%	17.9K	-633.9K	-466	113.71	N/A	N/A	0	11	345	366
2013-11-18	$28.76	$22.50	30.5%	8.7%	22.0%	13.9%	0.0%	53.0%	-7.1%	9.4K	-714.1K	-315	117.96	N/A	N/A	0	0	313	327
2013-11-19	$28.12	$22.50	26.4%	7.6%	23.3%	10.3%	0.0%	-1.2%	1.6%	16.0K	-667.0K	-349	106.49	N/A	N/A	0	0	313	327
2013-11-20	$27.95	$22.50	23.9%	6.8%	23.4%	8.1%	0.0%	3.2%	9.3%	19.8K	-617.7K	-573	122.89	N/A	N/A	0	0	313	327
2013-11-21	$28.11	$22.50	21.7%	6.2%	23.3%	6.2%	0.0%	-2.5%	0.5%	15.7K	-663.0K	-339	112.89	N/A	N/A	0	0	313	327
2013-11-22	$28.47	$22.50	23.3%	6.7%	23.5%	7.6%	0.0%	9.8%	9.7%	17.6K	-668.5K	-450	121.00	N/A	N/A	0	0	313	327
2013-11-25	$28.49	$22.50	20.2%	5.8%	21.6%	4.8%	0.0%	-5.4%	0.5%	15.2K	-677.4K	-324	102.78	N/A	N/A	0	0	313	327
2013-11-26	$28.63	$22.50	19.0%	5.4%	21.3%	3.8%	0.0%	-2.8%	0.5%	15.6K	-689.1K	-290	21.26	N/A	N/A	10	0	313	327
2013-11-27	$28.66	$22.50	15.6%	4.5%	20.7%	0.9%	0.0%	6.4%	7.5%	13.8K	-690.3K	-270	112.52	N/A	N/A	0	0	323	327
2013-11-29	$28.87	$22.50	27.0%	7.7%	20.6%	10.8%	0.0%	17.4%	5.4%	17.1K	-716.7K	-415	123.15	N/A	N/A	0	0	323	327