CSGS Options History — January 2021

In January 2021, CSGS traded between $42.75 and $46.03. ATM implied volatility averaged 46.9%, placing in the 35.5% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded above realized volatility by 22.3% (HV 20d: 24.6%). Max pain ranged from $35.00 to $45.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.56.

Notable Days

2021-01-20: Highest Volume — 404 contracts
2021-01-13: Largest IV drop — 60.0% change
2021-01-12: Highest IV Rank — 89.0%
2021-01-27: Largest Expected Move — 14.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.65	$42.75	$46.03	$44.96	$42.75
Max Pain	$43.75	$35.00	$45.00	$35.00	$45.00
ATM IV	46.9%	32.5%	94.3%	54.2%	39.5%
Expected Move	10.7%	7.7%	14.7%	9.4%	11.3%
HV 20d	24.6%	20.4%	28.2%	28.1%	26.6%
HV 60d	30.0%	29.5%	31.2%	29.5%	31.0%
IV Rank	35.5%	19.1%	89.0%	44.0%	27.0%
IV Percentile	55.5%	29.0%	99.2%	71.8%	46.4%
Term Structure	-0.5%	-7.0%	7.7%	0.8%	5.7%
VWIV	40.9%	35.3%	52.4%	37.7%	39.6%
Skew 25d	6.8%	-7.2%	33.5%	15.4%	5.4%
Skew 10d	5.9%	-29.0%	46.6%	38.1%	5.8%
Call IV 25d	43.2%	25.2%	105.7%	25.2%	39.9%
Put IV 25d	50.0%	27.1%	131.3%	40.7%	45.4%
Bid-Ask Spread %	114.71	99.39	125.96	119.86	122.35
Gamma HHI	0.49	0.41	0.59	0.49	0.45
Net GEX	79.2K	33.2K	111.7K	75.4K	78.9K
Net DEX	-1.2M	-1.9M	-364.3K	-1.3M	-942.6K
Net VEX	-7.2K	-8.8K	-6.2K	-6.7K	-7.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.00	4.75	0.00	0.00
Total Volume	38.316	0	404	0	5
Total OI	935.684	674	1,101	853	1,063

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
2021-01-04	$44.96	$0.00	54.2%	9.4%	28.1%	44.0%	0.0%	15.4%	0.8%	75.4K	-1.3M	-6.7K	0.00	119.86	N/A	N/A	0	0	800	53
2021-01-05	$44.93	$0.00	48.4%	10.3%	27.0%	37.5%	0.0%	3.7%	1.1%	82.9K	-1.3M	-6.9K	0.00	121.77	N/A	N/A	0	0	800	53
2021-01-06	$45.80	$0.00	73.7%	9.3%	27.8%	65.9%	0.0%	-6.8%	7.7%	69.5K	-1.6M	-7.1K	0.00	124.67	N/A	N/A	0	0	800	53
2021-01-07	$46.03	$0.00	47.2%	8.6%	27.6%	36.2%	0.0%	2.9%	-0.6%	97.0K	-1.7M	-7.1K	0.00	115.92	N/A	N/A	21	0	800	53
2021-01-08	$45.40	$0.00	38.9%	7.7%	28.2%	26.8%	0.0%	25.5%	-6.8%	111.1K	-1.5M	-6.8K	0.00	122.75	N/A	N/A	0	0	815	53
2021-01-11	$44.72	$0.00	61.2%	12.2%	28.0%	51.6%	0.0%	14.3%	-2.9%	91.9K	-1.4M	-6.7K	0.00	116.79	N/A	N/A	0	0	815	53
2021-01-12	$44.86	$0.00	94.3%	10.8%	28.0%	89.0%	0.0%	-6.5%	2.1%	92.3K	-1.3M	-6.5K	0.00	112.76	N/A	N/A	0	100	815	53
2021-01-13	$43.98	$0.00	37.7%	10.8%	21.1%	25.0%	0.0%	1.2%	-1.3%	81.6K	-1.1M	-7.4K	0.00	119.50	N/A	N/A	0	0	815	153
2021-01-14	$43.85	$0.00	45.1%	12.9%	20.6%	33.3%	0.0%	5.9%	-7.0%	53.1K	-412.9K	-6.2K	0.00	115.87	N/A	N/A	0	0	815	153
2021-01-15	$43.15	$0.00	33.6%	9.6%	20.9%	20.3%	0.0%	-2.4%	-5.9%	33.2K	-364.3K	-6.2K	0.00	125.96	N/A	N/A	1	0	815	153
2021-01-19	$44.40	$0.00	40.7%	11.7%	23.8%	28.4%	37.7%	-5.8%	-2.7%	34.5K	-694.9K	-6.4K	4.75	121.02	N/A	N/A	4	19	572	102
2021-01-20	$45.23	$35.00	37.7%	10.8%	24.9%	25.0%	40.7%	16.0%	-3.0%	35.7K	-890.1K	-7.1K	0.01	101.38	N/A	N/A	401	3	576	121
2021-01-21	$45.42	$45.00	33.0%	9.5%	20.6%	19.7%	39.3%	-0.5%	-2.2%	103.8K	-1.9M	-8.7K	0.35	106.36	N/A	N/A	26	9	966	124
2021-01-22	$45.70	$45.00	37.0%	10.6%	20.4%	24.3%	37.9%	5.2%	-2.3%	111.7K	-1.9M	-8.8K	0.00	101.00	N/A	N/A	65	0	968	133
2021-01-25	$45.01	$45.00	32.5%	9.3%	20.8%	19.1%	35.3%	-2.7%	0.1%	107.0K	-1.7M	-8.3K	1.05	99.39	N/A	N/A	19	20	923	133
2021-01-26	$45.36	$45.00	45.3%	13.0%	20.9%	33.6%	45.6%	-7.2%	3.4%	93.0K	-1.6M	-8.1K	0.00	101.46	N/A	N/A	5	0	910	152
2021-01-27	$43.32	$45.00	51.1%	14.7%	26.3%	40.2%	52.4%	31.7%	5.4%	65.9K	-1.1M	-7.5K	0.00	115.60	N/A	N/A	19	0	905	152
2021-01-28	$43.48	$45.00	39.4%	11.3%	26.1%	26.9%	39.6%	33.5%	-1.4%	86.9K	-1.1M	-7.4K	0.00	115.12	N/A	N/A	11	0	906	152
2021-01-29	$42.75	$45.00	39.5%	11.3%	26.6%	27.0%	39.6%	5.4%	5.7%	78.9K	-942.6K	-7.1K	0.00	122.35	N/A	N/A	5	0	911	152