CSGS Options History — September 2018

In September 2018, CSGS traded between $37.39 and $41.92. ATM implied volatility averaged 19.9%, placing in the 10.7% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 2.3% (HV 20d: 17.7%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 17 of 19 days. Put/call ratio averaged 0.95.

Notable Days

2018-09-17: Highest Volume — 290 contracts
2018-09-05: Largest IV drop — 50.7% change
2018-09-04: Highest IV Rank — 47.5%
2018-09-04: Largest Expected Move — 12.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.84	$37.39	$41.92	$37.39	$40.18
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	19.9%	15.9%	41.8%	41.8%	19.0%
Expected Move	5.7%	4.2%	12.0%	12.0%	5.5%
HV 20d	17.7%	12.8%	23.5%	12.8%	23.5%
HV 60d	19.3%	17.3%	20.9%	17.3%	20.9%
IV Rank	10.7%	3.9%	47.5%	47.5%	9.2%
IV Percentile	18.1%	3.2%	82.1%	82.1%	14.7%
Term Structure	5.3%	-38.2%	12.6%	-38.2%	12.6%
VWIV	20.2%	17.9%	36.2%	36.2%	19.0%
Skew 25d	1.0%	-13.3%	7.3%	-13.3%	3.1%
Skew 10d	1.8%	-6.5%	9.1%	-6.5%	4.6%
Call IV 25d	18.9%	12.4%	37.1%	37.1%	16.1%
Put IV 25d	19.9%	16.2%	25.3%	23.8%	19.2%
Bid-Ask Spread %	56.92	15.91	108.42	108.42	27.50
Gamma HHI	0.53	0.28	0.87	0.28	0.48
Net GEX	5.0K	-17.9K	43.9K	1.4K	-13.2K
Net DEX	-109.2K	-389.2K	48.3K	44.3K	-3.5K
Net VEX	-775	-1.6K	-338	-360	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.95	0.27	3.53	0.70	0.89
Total Volume	153.737	62	290	68	246
Total OI	528.947	368	691	495	479

Daily Data (19 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
2018-09-04	$37.39	$40.00	41.8%	12.0%	12.8%	47.5%	36.2%	-13.3%	-38.2%	1.4K	44.3K	-360	0.70	108.42	N/A	N/A	40	28	433	62
2018-09-05	$38.27	$40.00	20.6%	5.9%	15.4%	11.9%	25.8%	0.9%	-6.2%	3.7K	10.7K	-430	0.43	95.56	N/A	N/A	47	20	433	62
2018-09-06	$37.84	$40.00	17.4%	4.2%	14.2%	6.5%	18.0%	1.6%	6.7%	4.1K	24.2K	-380	0.38	102.13	N/A	N/A	53	20	443	62
2018-09-07	$37.76	$40.00	15.9%	4.2%	14.1%	3.9%	18.4%	1.3%	6.6%	5.8K	16.6K	-344	0.38	56.14	N/A	N/A	53	20	460	60
2018-09-10	$38.00	$40.00	17.6%	5.1%	13.6%	6.7%	17.9%	2.5%	7.4%	7.0K	10.3K	-365	0.38	60.93	N/A	N/A	53	20	460	60
2018-09-11	$38.17	$40.00	16.0%	5.1%	13.6%	4.1%	18.0%	2.4%	7.4%	7.4K	13.1K	-338	0.38	52.00	N/A	N/A	53	20	460	60
2018-09-12	$39.25	$40.00	18.4%	5.3%	16.6%	8.2%	18.4%	5.4%	6.8%	17.7K	-75.1K	-503	0.27	76.98	N/A	N/A	74	20	460	59
2018-09-13	$39.00	$40.00	18.3%	5.2%	16.9%	7.9%	18.3%	-0.8%	6.8%	28.1K	-93.9K	-546	0.43	87.05	N/A	N/A	47	20	486	59
2018-09-14	$40.15	$40.00	18.9%	5.4%	19.0%	8.9%	18.9%	1.1%	7.3%	43.9K	-262.8K	-699	0.48	85.85	N/A	N/A	42	20	496	59
2018-09-17	$40.72	$40.00	20.4%	5.8%	19.4%	11.5%	20.7%	-1.8%	6.5%	34.1K	-389.2K	-641	0.70	69.60	N/A	N/A	171	119	496	59
2018-09-18	$41.34	$40.00	19.1%	5.5%	19.6%	9.3%	18.1%	4.8%	8.0%	-2.4K	-278.0K	-1.1K	0.70	93.04	N/A	N/A	171	119	528	158
2018-09-19	$41.38	$40.00	19.5%	5.6%	19.4%	9.9%	19.5%	0.3%	7.7%	-5.2K	-299.8K	-1.0K	1.09	15.91	N/A	N/A	109	119	528	158
2018-09-20	$41.69	$40.00	19.1%	5.5%	18.8%	9.3%	19.1%	0.6%	7.8%	615	-309.4K	-1.0K	1.09	21.25	N/A	N/A	109	119	533	158
2018-09-21	$41.92	$40.00	18.1%	5.2%	17.1%	7.6%	18.4%	0.8%	8.6%	-1.6K	-353.5K	-985	1.03	22.78	N/A	N/A	115	119	531	158
2018-09-24	$41.56	$40.00	20.0%	5.7%	17.8%	10.8%	20.1%	-0.1%	11.1%	-4.1K	-92.4K	-1.0K	3.43	26.77	N/A	N/A	30	103	261	111
2018-09-25	$41.87	$40.00	19.8%	5.7%	17.7%	10.5%	19.6%	7.3%	11.4%	-901	-125.9K	-999	3.53	23.39	N/A	N/A	30	106	261	111
2018-09-26	$40.48	$40.00	19.5%	5.6%	22.5%	10.0%	19.4%	2.4%	11.8%	-17.9K	42.4K	-952	0.91	32.03	N/A	N/A	127	116	254	114
2018-09-27	$39.90	$40.00	19.7%	5.7%	23.4%	10.4%	19.4%	0.7%	11.2%	-13.5K	48.3K	-1.4K	0.91	24.14	N/A	N/A	127	116	354	124
2018-09-28	$40.18	$40.00	19.0%	5.5%	23.5%	9.2%	19.0%	3.1%	12.6%	-13.2K	-3.5K	-1.6K	0.89	27.50	N/A	N/A	130	116	355	124