CSGS Options History — November 2019

In November 2019, CSGS traded between $55.25 and $57.98. ATM implied volatility averaged 20.5%, placing in the 10.8% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 17.5% (HV 20d: 38.0%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.05.

Notable Days

2019-11-06: Highest Volume — 35 contracts
2019-11-13: Largest IV spike — 31.3% change
2019-11-04: Highest IV Rank — 21.8%
2019-11-04: Largest Expected Move — 6.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$56.71	$55.25	$57.98	$56.26	$57.21
Max Pain	$50.25	$50.00	$55.00	$55.00	$50.00
ATM IV	20.5%	15.1%	26.0%	22.5%	17.5%
Expected Move	5.8%	5.0%	6.6%	6.5%	5.0%
HV 20d	38.0%	16.5%	41.3%	41.2%	16.5%
HV 60d	28.1%	27.5%	28.8%	28.4%	27.5%
IV Rank	10.8%	0.0%	21.8%	14.8%	4.8%
IV Percentile	17.2%	0.0%	50.4%	31.7%	2.4%
Term Structure	3.4%	-0.5%	7.5%	-0.5%	6.8%
VWIV	20.9%	13.8%	24.2%	23.6%	13.8%
Skew 25d	2.8%	-1.7%	10.1%	-1.7%	2.9%
Skew 10d	18.3%	-1.5%	43.4%	-1.5%	39.2%
Call IV 25d	19.5%	17.2%	24.4%	24.4%	17.7%
Put IV 25d	22.3%	20.1%	29.2%	22.8%	20.6%
Bid-Ask Spread %	73.94	36.15	108.25	108.25	50.72
Gamma HHI	0.66	0.56	0.83	0.74	0.64
Net GEX	34.9K	29.0K	58.2K	42.0K	33.4K
Net DEX	-571.7K	-651.2K	-475.9K	-521.5K	-572.4K
Net VEX	-2.0K	-2.2K	-1.8K	-2.0K	-1.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.05	0.00	0.50	0.00	0.00
Total Volume	5.25	0	35	3	8
Total OI	438.4	346	525	490	351

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
2019-11-01	$56.26	$55.00	22.5%	6.5%	41.2%	14.8%	23.6%	-1.7%	-0.5%	42.0K	-521.5K	-2.0K	0.00	108.25	N/A	N/A	0	3	307	183
2019-11-04	$57.17	$50.00	26.0%	6.6%	41.3%	21.8%	23.0%	3.8%	4.5%	58.2K	-633.8K	-2.1K	0.00	83.33	N/A	N/A	10	0	307	182
2019-11-05	$56.61	$50.00	23.4%	6.4%	39.6%	16.5%	0.0%	3.0%	4.8%	43.1K	-554.7K	-2.0K	0.00	89.65	N/A	N/A	20	0	308	182
2019-11-06	$56.23	$50.00	24.2%	6.3%	39.7%	18.2%	20.9%	2.8%	5.3%	40.2K	-580.7K	-2.2K	0.03	86.83	N/A	N/A	34	1	328	182
2019-11-07	$55.35	$50.00	22.9%	6.2%	40.3%	15.5%	0.0%	2.5%	5.1%	31.9K	-483.8K	-2.1K	0.00	88.56	N/A	N/A	0	0	340	181
2019-11-08	$55.25	$50.00	21.0%	6.1%	40.1%	11.8%	0.0%	3.0%	5.8%	29.6K	-475.9K	-2.1K	0.00	84.13	N/A	N/A	0	0	340	181
2019-11-11	$55.89	$50.00	19.4%	5.8%	39.6%	8.6%	0.0%	3.6%	6.6%	31.6K	-544.6K	-2.0K	0.00	87.99	N/A	N/A	1	0	340	180
2019-11-12	$56.23	$50.00	15.1%	5.8%	39.6%	0.0%	20.1%	3.4%	6.7%	30.4K	-593.8K	-2.0K	0.50	86.77	N/A	N/A	4	2	340	180
2019-11-13	$56.28	$50.00	19.9%	5.7%	39.4%	9.6%	24.2%	2.7%	6.5%	30.2K	-607.3K	-2.0K	0.00	91.90	N/A	N/A	0	5	342	181
2019-11-14	$56.65	$50.00	20.0%	5.7%	39.4%	9.9%	20.0%	2.9%	6.6%	32.5K	-625.3K	-2.0K	0.00	87.86	N/A	N/A	2	0	342	181
2019-11-15	$56.83	$50.00	19.0%	5.4%	38.8%	7.9%	22.7%	2.9%	7.5%	31.7K	-651.2K	-2.0K	0.00	81.18	N/A	N/A	1	0	344	181
2019-11-18	$57.60	$50.00	18.0%	5.2%	38.8%	5.9%	0.0%	2.1%	0.5%	33.7K	-598.5K	-2.0K	0.00	71.93	N/A	N/A	0	0	205	143
2019-11-19	$57.98	$50.00	18.7%	5.4%	37.6%	7.3%	0.0%	2.7%	0.6%	34.5K	-627.9K	-2.0K	0.00	69.50	N/A	N/A	0	0	205	143
2019-11-20	$57.98	$50.00	18.5%	5.3%	37.4%	7.0%	20.1%	2.3%	0.3%	34.5K	-625.9K	-2.0K	0.00	67.04	N/A	N/A	4	0	205	143
2019-11-21	$57.32	$50.00	20.5%	5.9%	38.0%	11.0%	0.0%	2.1%	-0.4%	32.5K	-568.3K	-1.9K	0.00	68.61	N/A	N/A	0	0	203	143
2019-11-22	$56.29	$50.00	21.3%	6.1%	38.6%	12.6%	0.0%	3.0%	0.1%	29.0K	-498.3K	-1.8K	0.00	44.37	N/A	N/A	4	0	203	143
2019-11-25	$56.65	$50.00	20.5%	5.9%	38.2%	10.9%	0.0%	10.1%	0.4%	31.5K	-525.6K	-1.8K	0.00	36.15	N/A	N/A	0	0	206	143
2019-11-26	$57.23	$50.00	20.2%	5.8%	37.6%	10.4%	0.0%	1.3%	0.8%	33.3K	-566.0K	-1.8K	0.00	46.34	N/A	N/A	6	0	206	143
2019-11-27	$57.27	$50.00	20.7%	5.9%	37.6%	11.4%	0.0%	1.6%	0.5%	33.5K	-579.2K	-1.8K	0.00	47.75	N/A	N/A	0	0	208	143
2019-11-29	$57.21	$50.00	17.5%	5.0%	16.5%	4.8%	13.8%	2.9%	6.8%	33.4K	-572.4K	-1.8K	0.00	50.72	N/A	N/A	8	0	208	143