CSGS Options History — October 2017

In October 2017, CSGS traded between $40.59 and $42.42. ATM implied volatility averaged 39.1%, placing in the 40.0% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded above realized volatility by 25.3% (HV 20d: 13.8%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 1.63.

Notable Days

2017-10-20: Highest Volume — 188 contracts
2017-10-09: Largest IV spike — 168.5% change
2017-10-09: Highest IV Rank — 70.6%
2017-10-03: Largest Expected Move — 15.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$41.07	$40.59	$42.42	$40.84	$42.42
Max Pain	$37.27	$35.00	$40.00	$35.00	$40.00
ATM IV	39.1%	21.0%	59.5%	24.3%	47.9%
Expected Move	11.3%	7.0%	15.4%	7.0%	13.7%
HV 20d	13.8%	8.1%	17.2%	17.2%	11.7%
HV 60d	15.2%	13.2%	16.8%	16.8%	13.6%
IV Rank	40.0%	12.9%	70.6%	17.9%	53.2%
IV Percentile	80.6%	29.8%	98.8%	54.8%	95.2%
Term Structure	-6.7%	-18.4%	10.2%	10.2%	-12.2%
VWIV	37.1%	24.5%	48.0%	24.5%	48.0%
Skew 25d	5.8%	0.6%	34.5%	34.5%	2.9%
Skew 10d	10.8%	-27.2%	80.8%	80.8%	7.8%
Call IV 25d	36.6%	20.9%	46.9%	20.9%	46.4%
Put IV 25d	42.4%	33.5%	55.4%	55.4%	49.3%
Bid-Ask Spread %	83.69	55.20	110.82	84.85	87.23
Gamma HHI	0.46	0.39	0.57	0.45	0.45
Net GEX	4.7K	-656	9.5K	930	9.5K
Net DEX	-46.1K	-110.3K	-14.9K	-14.9K	-110.3K
Net VEX	-615	-1.4K	-81	-81	-1.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.63	0.83	2.12	1.86	1.24
Total Volume	130.727	93	188	123	103
Total OI	188.727	95	306	95	290

Daily Data (22 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
2017-10-02	$40.84	$35.00	24.3%	7.0%	17.2%	17.9%	24.5%	34.5%	10.2%	930	-14.9K	-81	1.86	84.85	N/A	N/A	43	80	12	83
2017-10-03	$40.97	$35.00	53.6%	15.4%	16.5%	61.9%	29.3%	5.8%	-18.4%	849	-27.0K	-332	1.86	110.82	N/A	N/A	43	80	46	83
2017-10-04	$41.02	$35.00	34.5%	9.9%	16.2%	33.2%	28.8%	6.5%	0.6%	3.2K	-46.6K	-262	1.90	100.23	N/A	N/A	42	80	46	83
2017-10-05	$41.00	$35.00	21.0%	9.6%	16.3%	12.9%	32.7%	4.1%	-3.3%	4.9K	-49.3K	-229	1.90	55.20	N/A	N/A	42	80	47	83
2017-10-06	$40.60	$35.00	22.1%	9.7%	17.0%	14.6%	32.8%	4.5%	-4.5%	4.4K	-43.1K	-215	1.90	69.61	N/A	N/A	42	80	47	83
2017-10-09	$41.02	$35.00	59.5%	10.1%	17.1%	70.6%	33.3%	3.5%	-4.6%	-656	-42.4K	-241	1.90	93.38	N/A	N/A	42	80	47	83
2017-10-10	$41.03	$35.00	26.4%	10.3%	17.1%	21.0%	34.5%	4.5%	-5.7%	4.9K	-50.4K	-219	1.90	55.87	N/A	N/A	42	80	48	83
2017-10-11	$40.90	$35.00	36.6%	10.5%	16.9%	36.3%	33.9%	6.8%	-3.1%	4.8K	-52.0K	-221	1.90	85.21	N/A	N/A	42	80	48	83
2017-10-12	$40.74	$35.00	36.6%	10.5%	16.1%	36.3%	35.0%	5.6%	-5.4%	5.0K	-48.2K	-214	1.89	73.09	N/A	N/A	44	83	48	83
2017-10-13	$40.84	$35.00	38.1%	10.9%	14.9%	38.5%	33.2%	7.4%	-7.1%	5.5K	-47.8K	-253	1.89	83.22	N/A	N/A	44	83	55	86
2017-10-16	$40.76	$35.00	38.4%	11.0%	14.2%	39.0%	36.5%	3.5%	-7.1%	5.5K	-49.2K	-241	1.89	75.57	N/A	N/A	44	83	55	86
2017-10-17	$40.59	$35.00	39.4%	11.3%	14.4%	40.4%	38.3%	4.4%	-8.7%	5.3K	-45.8K	-240	1.69	73.83	N/A	N/A	67	113	55	86
2017-10-18	$40.85	$40.00	39.5%	11.3%	12.7%	40.7%	38.6%	4.4%	-8.4%	4.9K	-46.0K	-674	1.69	75.41	N/A	N/A	67	113	115	116
2017-10-19	$40.88	$40.00	37.8%	10.8%	12.5%	38.2%	37.5%	2.3%	-6.6%	7.2K	-53.6K	-648	2.12	78.01	N/A	N/A	60	127	115	116
2017-10-20	$41.11	$40.00	41.0%	11.8%	12.0%	42.9%	40.7%	0.6%	-9.3%	5.0K	-38.4K	-1.0K	2.08	78.61	N/A	N/A	61	127	142	164
2017-10-23	$41.01	$40.00	41.6%	11.9%	12.1%	43.9%	40.7%	4.1%	-8.3%	4.5K	-19.3K	-1.0K	0.83	87.19	N/A	N/A	60	50	141	92
2017-10-24	$41.03	$40.00	44.3%	12.7%	11.0%	47.8%	44.6%	2.6%	-10.5%	4.7K	-30.3K	-1.0K	1.00	84.85	N/A	N/A	60	60	141	93
2017-10-25	$41.30	$40.00	45.9%	13.2%	9.8%	50.3%	45.1%	4.5%	-11.8%	5.1K	-36.3K	-1.2K	1.00	93.31	N/A	N/A	60	60	141	103
2017-10-26	$41.66	$40.00	39.4%	11.3%	10.1%	40.6%	39.9%	4.2%	-5.5%	5.5K	-36.5K	-1.1K	0.93	95.05	N/A	N/A	61	57	141	103
2017-10-27	$41.66	$40.00	44.0%	12.6%	9.5%	47.5%	39.7%	6.9%	-5.5%	6.6K	-71.8K	-1.4K	0.93	107.16	N/A	N/A	61	57	169	121
2017-10-30	$41.39	$40.00	47.9%	13.7%	8.1%	53.2%	47.7%	3.9%	-11.0%	6.0K	-54.2K	-1.3K	1.58	93.47	N/A	N/A	36	57	169	121
2017-10-31	$42.42	$40.00	47.9%	13.7%	11.7%	53.2%	48.0%	2.9%	-12.2%	9.5K	-110.3K	-1.3K	1.24	87.23	N/A	N/A	46	57	169	121