CSV Options History — May 2013

In May 2013, CSV traded between $16.60 and $19.57. ATM implied volatility averaged 42.5%, placing in the 15.9% IV rank vs the trailing year. The 30-day expected move averaged 11.8%. IV traded below realized volatility by 4.4% (HV 20d: 46.9%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.78.

Notable Days

2013-05-29: Highest Volume — 119 contracts
2013-05-08: Largest IV drop — 28.4% change
2013-05-06: Highest IV Rank — 33.3%
2013-05-02: Largest Expected Move — 15.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.46	$16.60	$19.57	$16.68	$18.93
Max Pain	$18.18	$17.50	$20.00	$20.00	$17.50
ATM IV	42.5%	35.8%	64.3%	50.9%	35.9%
Expected Move	11.8%	10.3%	15.6%	14.6%	10.3%
HV 20d	46.9%	25.6%	71.7%	71.7%	43.8%
HV 60d	50.9%	48.2%	52.6%	52.6%	52.0%
IV Rank	15.9%	10.6%	33.3%	22.6%	10.6%
IV Percentile	69.1%	56.2%	90.4%	80.3%	56.2%
Term Structure	-3.1%	-21.5%	3.4%	-20.1%	1.2%
VWIV	41.8%	32.9%	76.4%	76.4%	35.7%
Skew 25d	7.6%	-7.1%	22.7%	13.5%	4.4%
Skew 10d	9.2%	-14.4%	23.7%	23.3%	8.5%
Call IV 25d	36.8%	29.2%	65.0%	52.0%	34.3%
Put IV 25d	44.3%	34.2%	67.2%	65.5%	38.7%
Bid-Ask Spread %	96.97	38.81	119.73	109.62	38.81
Gamma HHI	0.35	0.27	0.45	0.27	0.29
Net GEX	13.0K	9.0K	17.1K	9.5K	16.9K
Net DEX	-559.2K	-1.2M	-322.0K	-387.2K	-1.1M
Net VEX	-2.1K	-2.4K	-1.9K	-2.1K	-2.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.78	0.00	10.00	10.00	0.27
Total Volume	35	0	119	0	118
Total OI	976.727	793	1,068	954	1,065

Daily Data (22 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 Vol	Put Vol	Call OI	Put OI
2013-05-01	$16.68	$20.00	50.9%	14.6%	71.7%	22.6%	0.0%	13.5%	-20.1%	9.5K	-387.2K	-2.1K	0.00	109.62	0	0	730	224
2013-05-02	$16.69	$20.00	54.4%	15.6%	68.0%	25.4%	0.0%	13.4%	-21.5%	9.4K	-328.2K	-2.2K	10.00	115.40	1	10	730	224
2013-05-03	$16.88	$20.00	53.2%	15.2%	68.1%	24.4%	76.4%	-7.1%	-13.2%	9.0K	-322.0K	-2.2K	0.00	113.19	16	0	730	234
2013-05-06	$17.13	$20.00	64.3%	11.7%	68.3%	33.3%	0.0%	22.7%	-5.3%	9.9K	-379.3K	-2.1K	0.00	119.73	36	0	730	234
2013-05-07	$17.15	$20.00	53.1%	12.3%	67.3%	24.3%	0.0%	15.7%	-4.0%	10.5K	-391.6K	-2.1K	0.00	92.55	5	0	766	234
2013-05-08	$17.07	$20.00	38.0%	11.2%	67.1%	12.3%	39.1%	11.9%	0.2%	11.9K	-364.4K	-2.0K	0.00	88.62	31	0	771	234
2013-05-09	$16.83	$17.50	35.8%	12.3%	67.0%	10.6%	0.0%	9.4%	-1.3%	11.5K	-377.2K	-2.1K	0.67	94.54	3	2	800	234
2013-05-10	$17.33	$17.50	36.5%	11.2%	65.1%	11.1%	0.0%	10.0%	0.1%	13.1K	-434.7K	-2.0K	0.00	93.10	0	1	802	236
2013-05-13	$17.20	$17.50	46.2%	11.6%	35.9%	18.8%	38.0%	10.7%	-1.3%	12.0K	-439.0K	-2.0K	0.67	92.07	21	14	802	237
2013-05-14	$17.25	$17.50	36.5%	11.5%	35.4%	11.1%	40.8%	12.7%	0.2%	11.9K	-468.9K	-2.1K	0.27	93.31	26	7	811	243
2013-05-15	$17.42	$17.50	41.6%	11.2%	34.4%	15.2%	0.0%	2.2%	-1.1%	14.1K	-496.2K	-2.1K	0.00	99.86	0	4	828	240
2013-05-16	$17.45	$17.50	40.9%	11.7%	33.8%	14.6%	40.9%	5.8%	-0.7%	13.2K	-525.0K	-2.0K	0.00	98.58	16	0	824	230
2013-05-17	$17.59	$17.50	37.4%	10.7%	33.8%	11.9%	37.4%	5.9%	3.4%	12.2K	-535.5K	-2.0K	0.00	100.14	59	0	816	230
2013-05-20	$17.47	$17.50	38.1%	10.9%	33.9%	12.4%	38.1%	3.7%	2.4%	14.2K	-593.8K	-1.9K	0.83	97.88	24	20	672	121
2013-05-21	$17.50	$17.50	38.7%	11.1%	25.6%	12.9%	0.0%	3.8%	-0.2%	14.5K	-595.8K	-2.0K	0.00	102.24	0	0	696	141
2013-05-22	$16.73	$17.50	38.5%	11.0%	29.9%	12.7%	0.0%	5.7%	-1.1%	15.0K	-481.0K	-2.0K	0.05	94.83	65	3	696	141
2013-05-23	$16.60	$17.50	38.4%	11.0%	28.9%	12.6%	0.0%	4.8%	-0.5%	16.5K	-467.6K	-2.1K	0.47	102.10	15	7	738	144
2013-05-24	$17.22	$17.50	36.1%	10.4%	31.3%	10.8%	32.9%	0.9%	1.8%	17.1K	-587.1K	-2.2K	0.61	99.71	31	19	753	151
2013-05-28	$17.95	$17.50	40.9%	11.7%	34.7%	14.6%	0.0%	15.8%	-1.7%	15.9K	-756.9K	-2.2K	0.08	96.51	52	4	784	170
2013-05-29	$19.55	$17.50	39.9%	11.4%	45.7%	13.9%	38.1%	3.1%	-3.3%	12.4K	-1.1M	-2.1K	0.05	90.33	113	6	823	174
2013-05-30	$19.57	$17.50	39.5%	11.3%	41.3%	13.6%	0.0%	-2.5%	-2.4%	15.2K	-1.2M	-2.3K	0.00	100.13	41	0	871	174
2013-05-31	$18.93	$17.50	35.9%	10.3%	43.8%	10.6%	35.7%	4.4%	1.2%	16.9K	-1.1M	-2.4K	0.27	38.81	93	25	891	174