CSGS Options History — April 2020

In April 2020, CSGS traded between $40.59 and $50.76. ATM implied volatility averaged 61.8%, placing in the 56.0% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded above realized volatility by 12.4% (HV 20d: 49.3%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2020-04-08: Highest Volume — 28 contracts
2020-04-07: Largest IV spike — 52.9% change
2020-04-07: Highest IV Rank — 83.8%
2020-04-27: Largest Expected Move — 19.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.12	$40.59	$50.76	$40.59	$48.91
Max Pain	$44.76	$40.00	$45.00	$40.00	$45.00
ATM IV	61.8%	48.2%	85.0%	66.0%	66.9%
Expected Move	16.6%	11.6%	19.8%	18.9%	19.2%
HV 20d	49.3%	36.5%	64.0%	64.0%	39.7%
HV 60d	47.4%	44.2%	49.5%	44.3%	49.5%
IV Rank	56.0%	39.7%	83.8%	61.1%	62.1%
IV Percentile	92.3%	85.7%	99.2%	96.4%	94.4%
Term Structure	-5.2%	-23.7%	19.6%	-6.7%	-21.8%
VWIV	39.8%	28.9%	50.7%	28.9%	50.7%
Skew 25d	17.8%	0.3%	44.1%	44.1%	16.1%
Skew 10d	18.7%	-22.1%	40.8%	40.8%	15.9%
Call IV 25d	52.0%	33.2%	87.5%	48.1%	79.8%
Put IV 25d	69.7%	45.6%	95.9%	92.2%	95.9%
Bid-Ask Spread %	112.27	96.57	123.75	111.86	119.64
Gamma HHI	0.39	0.24	0.81	0.80	0.26
Net GEX	6.0K	1.8K	12.6K	12.0K	3.0K
Net DEX	-314.3K	-659.2K	-82.2K	-194.3K	-149.5K
Net VEX	-1.2K	-1.3K	-1.0K	-1.3K	-1.0K
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	1.714	0	28	0	4
Total OI	200.905	139	259	233	141

Daily Data (21 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	Call OI	Put OI
2020-04-01	$40.59	$40.00	66.0%	18.9%	64.0%	61.1%	0.0%	44.1%	-6.7%	12.0K	-194.3K	-1.3K	111.86	N/A	N/A	0	171	62
2020-04-02	$40.73	$45.00	64.2%	16.3%	59.3%	58.9%	0.0%	22.0%	-5.5%	8.9K	-231.4K	-1.3K	105.28	N/A	N/A	0	171	62
2020-04-03	$40.73	$45.00	68.9%	15.5%	59.3%	64.6%	0.0%	19.0%	-4.1%	12.6K	-187.4K	-1.3K	108.77	N/A	N/A	0	171	62
2020-04-06	$43.84	$45.00	55.6%	12.5%	60.2%	48.6%	28.9%	0.3%	19.6%	12.3K	-367.3K	-1.2K	110.06	N/A	N/A	1	171	62
2020-04-07	$44.02	$45.00	85.0%	11.6%	58.8%	83.8%	0.0%	20.8%	6.5%	10.7K	-366.9K	-1.3K	110.08	N/A	N/A	0	172	62
2020-04-08	$45.55	$45.00	50.3%	14.4%	58.9%	42.2%	50.7%	15.3%	-4.7%	10.1K	-442.1K	-1.2K	108.31	N/A	N/A	28	172	62
2020-04-09	$46.70	$45.00	50.6%	14.5%	55.9%	42.7%	0.0%	20.1%	4.7%	6.2K	-598.0K	-1.2K	103.11	N/A	N/A	0	197	62
2020-04-13	$46.02	$45.00	48.2%	13.8%	56.1%	39.7%	0.0%	5.6%	5.2%	10.5K	-568.2K	-1.2K	96.57	N/A	N/A	0	197	62
2020-04-14	$47.34	$45.00	54.2%	15.5%	56.5%	46.9%	0.0%	16.2%	-3.0%	5.4K	-635.7K	-1.2K	110.73	N/A	N/A	0	197	62
2020-04-15	$47.32	$45.00	63.6%	18.2%	55.3%	58.2%	0.0%	33.0%	-8.4%	5.4K	-635.6K	-1.2K	112.91	N/A	N/A	0	197	62
2020-04-16	$46.91	$45.00	57.1%	16.4%	53.9%	50.4%	0.0%	13.9%	-8.5%	6.6K	-624.9K	-1.2K	113.90	N/A	N/A	0	197	62
2020-04-17	$47.60	$45.00	62.6%	17.9%	49.9%	56.9%	0.0%	15.8%	-12.0%	1.8K	-659.2K	-1.2K	109.15	N/A	N/A	1	197	62
2020-04-20	$47.73	$45.00	58.9%	16.9%	37.4%	52.6%	0.0%	28.1%	-17.2%	2.6K	-113.7K	-1.1K	112.27	N/A	N/A	0	78	61
2020-04-21	$46.00	$45.00	67.1%	19.2%	41.1%	62.4%	0.0%	12.9%	-11.0%	2.3K	-82.2K	-1.2K	110.00	N/A	N/A	2	78	61
2020-04-22	$46.54	$45.00	56.5%	16.2%	40.9%	49.7%	0.0%	23.6%	4.4%	2.2K	-100.3K	-1.1K	113.91	N/A	N/A	0	80	61
2020-04-23	$47.13	$45.00	65.8%	18.9%	40.8%	60.8%	0.0%	7.7%	0.4%	2.2K	-96.6K	-1.1K	121.82	N/A	N/A	0	80	61
2020-04-24	$47.32	$45.00	55.8%	16.0%	37.0%	48.8%	0.0%	14.2%	4.5%	2.4K	-106.1K	-1.1K	113.76	N/A	N/A	0	80	61
2020-04-27	$47.93	$45.00	69.1%	19.8%	36.5%	64.7%	0.0%	6.0%	-19.4%	2.3K	-115.5K	-1.1K	121.55	N/A	N/A	0	80	61
2020-04-28	$48.84	$45.00	66.9%	19.2%	36.7%	62.2%	0.0%	21.3%	-23.7%	2.5K	-140.8K	-1.1K	120.31	N/A	N/A	0	80	61
2020-04-29	$50.76	$45.00	64.1%	18.4%	38.0%	58.7%	0.0%	17.3%	-9.3%	3.2K	-184.7K	-1.0K	123.75	N/A	N/A	0	80	61
2020-04-30	$48.91	$45.00	66.9%	19.2%	39.7%	62.1%	0.0%	16.1%	-21.8%	3.0K	-149.5K	-1.0K	119.64	N/A	N/A	4	80	61