CSGS Options History — December 2017

In December 2017, CSGS traded between $43.81 and $45.03. ATM implied volatility averaged 24.4%, placing in the 18.0% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 8.4% (HV 20d: 16.0%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.78.

Notable Days

2017-12-14: Highest Volume — 157 contracts
2017-12-13: Largest IV drop — 64.7% change
2017-12-12: Highest IV Rank — 71.5%
2017-12-01: Largest Expected Move — 6.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.32	$43.81	$45.03	$45.03	$43.83
Max Pain	$45.00	$45.00	$45.00	$45.00	$45.00
ATM IV	24.4%	17.8%	60.0%	22.6%	19.4%
Expected Move	5.8%	5.1%	6.5%	6.5%	5.6%
HV 20d	16.0%	10.4%	22.3%	22.3%	10.6%
HV 60d	20.6%	19.7%	21.4%	21.2%	19.8%
IV Rank	18.0%	8.0%	71.5%	15.3%	10.5%
IV Percentile	32.9%	6.3%	98.8%	37.7%	13.9%
Term Structure	9.6%	-0.0%	14.3%	-0.0%	13.1%
VWIV	20.1%	18.1%	22.8%	22.8%	19.6%
Skew 25d	3.5%	-1.5%	12.3%	-1.5%	-1.1%
Skew 10d	5.8%	-2.9%	19.5%	-2.4%	-2.9%
Call IV 25d	18.5%	15.8%	22.8%	22.8%	20.2%
Put IV 25d	22.1%	16.1%	35.0%	21.3%	19.1%
Bid-Ask Spread %	91.28	33.62	109.83	96.91	109.83
Gamma HHI	0.64	0.29	0.87	0.51	0.86
Net GEX	10.3K	285	22.8K	4.6K	20.4K
Net DEX	-85.0K	-186.1K	52.5K	-106.2K	-104.8K
Net VEX	-853	-934	-679	-868	-934
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.78	0.24	1.30	1.17	0.73
Total Volume	109.35	76	157	102	76
Total OI	189.4	140	277	205	165

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
2017-12-01	$45.03	$45.00	22.6%	6.5%	22.3%	15.3%	22.8%	-1.5%	-0.0%	4.6K	-106.2K	-868	1.17	96.91	N/A	N/A	47	55	96	109
2017-12-04	$44.65	$45.00	23.8%	6.1%	19.7%	17.0%	21.6%	12.3%	6.6%	607	-70.8K	-886	1.17	85.53	N/A	N/A	47	55	98	119
2017-12-05	$44.27	$45.00	23.1%	6.2%	19.5%	16.0%	21.6%	6.5%	9.0%	320	-38.1K	-880	1.17	107.21	N/A	N/A	47	55	98	119
2017-12-06	$44.06	$45.00	23.0%	6.1%	18.7%	15.8%	21.2%	4.7%	6.8%	588	-12.8K	-847	1.17	94.19	N/A	N/A	47	55	98	119
2017-12-07	$44.26	$45.00	22.3%	5.8%	18.6%	14.8%	20.2%	8.3%	8.5%	543	-21.7K	-824	1.17	103.90	N/A	N/A	47	55	98	119
2017-12-08	$43.90	$45.00	34.3%	5.8%	18.8%	32.8%	20.3%	6.4%	8.6%	803	9.8K	-787	1.30	86.99	N/A	N/A	47	61	98	119
2017-12-11	$43.81	$45.00	45.2%	5.9%	18.8%	49.2%	20.4%	7.0%	7.5%	961	26.5K	-731	1.30	69.90	N/A	N/A	47	61	98	126
2017-12-12	$43.94	$45.00	60.0%	5.7%	18.8%	71.5%	19.8%	4.8%	8.1%	285	-24.3K	-763	1.30	87.44	N/A	N/A	47	61	98	126
2017-12-13	$43.82	$45.00	21.2%	6.1%	17.8%	13.1%	21.2%	3.0%	6.0%	356	-31.1K	-753	1.30	105.30	N/A	N/A	47	61	98	126
2017-12-14	$44.12	$45.00	18.9%	5.4%	17.9%	9.7%	18.9%	6.8%	9.9%	1.4K	52.5K	-679	0.65	103.36	N/A	N/A	95	62	98	126
2017-12-15	$44.54	$45.00	19.9%	5.7%	15.1%	11.2%	19.9%	8.0%	8.7%	17.2K	-54.6K	-933	0.65	47.88	N/A	N/A	95	62	148	129
2017-12-18	$44.72	$45.00	20.1%	5.8%	14.8%	11.6%	20.1%	0.6%	10.2%	17.9K	-186.1K	-905	0.36	95.85	N/A	N/A	85	31	97	43
2017-12-19	$44.59	$45.00	19.2%	5.5%	14.4%	10.2%	19.2%	5.7%	11.7%	18.6K	-166.1K	-918	0.34	33.62	N/A	N/A	86	29	97	45
2017-12-20	$44.69	$45.00	19.1%	5.5%	13.3%	10.0%	19.1%	0.2%	11.3%	19.3K	-181.6K	-923	0.34	91.32	N/A	N/A	86	29	99	46
2017-12-21	$44.57	$45.00	20.1%	5.8%	13.3%	11.5%	20.1%	0.5%	10.6%	18.5K	-175.8K	-909	0.24	105.00	N/A	N/A	86	21	99	46
2017-12-22	$44.77	$45.00	18.2%	5.2%	13.3%	8.7%	18.2%	0.8%	14.3%	20.8K	-172.2K	-916	0.24	108.34	N/A	N/A	86	21	99	48
2017-12-26	$44.47	$45.00	17.8%	5.1%	13.0%	8.0%	18.1%	-0.6%	14.0%	22.8K	-170.1K	-872	0.24	108.02	N/A	N/A	86	21	99	48
2017-12-27	$44.26	$45.00	19.4%	5.6%	10.5%	10.5%	19.4%	-0.4%	13.7%	20.3K	-142.6K	-868	0.24	93.49	N/A	N/A	86	21	99	48
2017-12-28	$44.13	$45.00	20.4%	5.9%	10.4%	12.0%	20.5%	-1.3%	12.4%	19.1K	-129.7K	-864	0.56	91.44	N/A	N/A	52	29	99	48
2017-12-29	$43.83	$45.00	19.4%	5.6%	10.6%	10.5%	19.6%	-1.1%	13.1%	20.4K	-104.8K	-934	0.73	109.83	N/A	N/A	44	32	107	58