CSGS Options History — March 2022

In March 2022, CSGS traded between $60.56 and $65.18. ATM implied volatility averaged 36.1%, placing in the 22.3% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 10.0% (HV 20d: 26.2%). Max pain ranged from $50.00 to $75.00. Net GEX was positive for 13 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 0.71.

Notable Days

2022-03-18: Highest Volume — 140 contracts
2022-03-23: Largest IV spike — 49.7% change
2022-03-03: Highest IV Rank — 37.8%
2022-03-11: Largest Expected Move — 17.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$63.38	$60.56	$65.18	$60.56	$63.67
Max Pain	$54.67	$50.00	$75.00	$50.00	$65.00
ATM IV	36.1%	25.3%	49.6%	45.4%	41.3%
Expected Move	11.1%	8.4%	17.8%	13.0%	8.4%
HV 20d	26.2%	24.4%	28.8%	25.9%	25.1%
HV 60d	21.3%	20.0%	22.7%	20.0%	22.6%
IV Rank	22.3%	9.9%	37.8%	33.0%	28.3%
IV Percentile	54.9%	13.9%	86.5%	81.0%	75.0%
Term Structure	-1.2%	-18.7%	10.2%	-16.3%	-12.5%
VWIV	49.0%	32.0%	76.2%	55.4%	32.0%
Skew 25d	2.6%	-13.9%	25.0%	14.4%	11.8%
Skew 10d	2.1%	-52.6%	55.1%	6.5%	2.4%
Call IV 25d	46.5%	27.1%	66.9%	41.8%	58.8%
Put IV 25d	49.1%	29.4%	73.4%	56.2%	70.5%
Bid-Ask Spread %	110.84	91.05	122.82	118.45	102.40
Gamma HHI	0.41	0.26	0.51	0.39	0.49
Net GEX	-1.3K	-8.1K	4.8K	940	-8.1K
Net DEX	-125.3K	-359.2K	95.9K	-229.5K	63.8K
Net VEX	-649	-1.0K	-162	-234	-961
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.34	1.94	0.46	0.95
Total Volume	91.304	66	140	83	74
Total OI	93.565	72	115	72	99

Daily Data (23 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
2022-03-01	$60.56	$50.00	45.4%	13.0%	25.9%	33.0%	55.4%	14.4%	-16.3%	940	-229.5K	-234	0.46	118.45	N/A	N/A	57	26	47	25
2022-03-02	$62.40	$50.00	41.1%	11.8%	27.5%	28.0%	53.0%	-1.5%	2.1%	1.1K	-251.0K	-182	0.46	119.54	N/A	N/A	57	26	47	25
2022-03-03	$62.33	$50.00	49.6%	14.2%	27.1%	37.8%	59.5%	-4.4%	7.9%	360	-252.9K	-162	0.44	120.67	N/A	N/A	59	26	47	25
2022-03-04	$64.30	$50.00	33.7%	9.7%	28.0%	19.5%	68.9%	8.2%	-9.6%	1.2K	-304.8K	-205	0.43	117.32	N/A	N/A	61	26	54	25
2022-03-07	$65.18	$50.00	48.3%	13.8%	28.1%	36.3%	47.3%	-5.5%	7.8%	2.0K	-322.6K	-288	0.34	120.03	N/A	N/A	77	26	58	25
2022-03-08	$64.45	$50.00	35.6%	14.7%	28.8%	21.7%	57.9%	4.2%	-1.1%	4.6K	-359.2K	-419	0.51	120.12	N/A	N/A	77	39	73	25
2022-03-09	$64.38	$50.00	32.2%	13.4%	24.6%	17.7%	42.9%	-12.4%	4.1%	4.8K	-318.2K	-518	0.41	119.61	N/A	N/A	73	30	72	38
2022-03-10	$65.02	$50.00	32.1%	14.7%	24.4%	17.6%	51.1%	-3.0%	9.2%	4.0K	-312.4K	-640	0.41	121.02	N/A	N/A	73	30	72	42
2022-03-11	$63.65	$50.00	34.8%	17.8%	26.1%	20.7%	76.2%	7.0%	3.3%	2.8K	-286.4K	-663	0.42	122.82	N/A	N/A	73	31	72	42
2022-03-14	$63.12	$50.00	29.9%	9.6%	25.9%	15.2%	34.4%	2.4%	8.1%	3.4K	-264.6K	-624	0.44	91.05	N/A	N/A	73	32	72	43
2022-03-15	$62.54	$50.00	31.0%	9.6%	26.0%	16.4%	39.8%	-6.8%	-0.3%	3.2K	-224.3K	-643	0.45	107.94	N/A	N/A	73	33	68	44
2022-03-16	$64.15	$55.00	36.2%	10.0%	26.8%	22.3%	37.6%	-10.3%	-1.0%	3.2K	-267.3K	-580	0.45	106.74	N/A	N/A	73	33	68	45
2022-03-17	$64.39	$0.00	32.9%	10.0%	26.5%	18.6%	0.0%	13.1%	-4.1%	3.8K	-74.5K	-526	0.45	107.95	N/A	N/A	73	33	38	45
2022-03-18	$63.49	$0.00	29.9%	9.3%	26.5%	15.1%	0.0%	6.1%	-2.6%	-1.2K	-25.8K	-571	0.89	100.61	N/A	N/A	74	66	38	45
2022-03-21	$63.22	$0.00	31.8%	9.5%	25.9%	17.3%	0.0%	-13.9%	-2.6%	-5.9K	43.8K	-903	1.94	105.62	N/A	N/A	33	64	24	60
2022-03-22	$63.41	$0.00	25.3%	9.0%	25.7%	9.9%	0.0%	25.0%	5.7%	-6.2K	46.1K	-910	1.00	96.02	N/A	N/A	33	33	24	60
2022-03-23	$63.16	$0.00	37.9%	8.9%	25.1%	24.4%	0.0%	0.9%	-11.7%	-6.0K	58.1K	-943	1.03	113.77	N/A	N/A	33	34	24	63
2022-03-24	$61.59	$0.00	37.2%	8.6%	26.3%	23.5%	0.0%	23.1%	10.2%	-7.0K	79.4K	-1.0K	0.97	107.13	N/A	N/A	36	35	24	67
2022-03-25	$62.03	$0.00	35.5%	9.7%	25.1%	21.6%	0.0%	3.3%	5.9%	-7.8K	95.9K	-1.0K	1.00	108.91	N/A	N/A	36	36	23	72
2022-03-28	$62.46	$0.00	34.4%	9.2%	25.2%	20.3%	36.0%	-1.1%	-2.0%	-7.9K	87.1K	-976	0.95	101.08	N/A	N/A	38	36	23	73
2022-03-29	$64.47	$75.00	34.1%	10.1%	26.6%	19.9%	53.6%	6.5%	-10.1%	-7.5K	66.4K	-965	0.95	111.02	N/A	N/A	38	36	25	73
2022-03-30	$63.69	$75.00	41.1%	9.0%	25.1%	28.0%	38.3%	-7.7%	-18.7%	-8.1K	71.9K	-995	0.92	109.57	N/A	N/A	39	36	25	73
2022-03-31	$63.67	$65.00	41.3%	8.4%	25.1%	28.3%	32.0%	11.8%	-12.5%	-8.1K	63.8K	-961	0.95	102.40	N/A	N/A	38	36	26	73