CSV Options History — May 2014

In May 2014, CSV traded between $15.62 and $18.44. ATM implied volatility averaged 34.8%, placing in the 50.9% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 9.7% (HV 20d: 25.1%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.03.

Notable Days

2014-05-29: Highest Volume — 327 contracts
2014-05-12: Largest IV spike — 43.6% change
2014-05-12: Highest IV Rank — 82.6%
2014-05-05: Largest Expected Move — 11.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.76	$15.62	$18.44	$16.12	$18.37
Max Pain	$17.74	$17.50	$20.00	$20.00	$17.50
ATM IV	34.8%	26.2%	42.9%	36.5%	26.2%
Expected Move	9.8%	7.5%	11.0%	10.5%	7.5%
HV 20d	25.1%	18.1%	29.3%	21.0%	28.1%
HV 60d	34.5%	32.6%	36.7%	33.5%	36.5%
IV Rank	50.9%	24.7%	82.6%	39.4%	26.2%
IV Percentile	47.9%	7.5%	96.0%	56.7%	7.5%
Term Structure	1.0%	-3.3%	10.8%	7.9%	10.8%
VWIV	35.3%	30.8%	39.8%	34.2%	39.8%
Skew 25d	4.4%	-5.8%	14.0%	-0.5%	3.0%
Skew 10d	10.1%	-0.5%	48.0%	6.6%	7.5%
Call IV 25d	30.4%	21.2%	42.6%	42.6%	26.8%
Put IV 25d	34.9%	25.4%	42.1%	42.1%	29.9%
Bid-Ask Spread %	70.48	46.53	104.31	46.53	104.31
Gamma HHI	0.61	0.41	0.70	0.66	0.41
Net GEX	28.3K	17.4K	32.7K	32.3K	17.4K
Net DEX	-1.0M	-1.5M	-671.3K	-890.8K	-1.5M
Net VEX	-2.9K	-3.5K	-1.9K	-3.4K	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.03	0.00	7.00	0.25	0.00
Total Volume	47.095	0	327	0	1
Total OI	1,390.619	1,279	1,467	1,381	1,279

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	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2014-05-01	$16.12	$20.00	36.5%	10.5%	21.0%	39.4%	0.0%	-0.5%	7.9%	32.3K	-890.8K	-3.4K	0.00	46.53	0	0	1,208	173
2014-05-02	$16.23	$20.00	36.0%	10.3%	21.5%	38.3%	0.0%	9.9%	3.1%	32.1K	-916.6K	-3.5K	0.00	61.07	0	0	1,208	173
2014-05-05	$16.18	$17.50	40.8%	11.0%	21.0%	48.7%	0.0%	5.8%	0.8%	32.3K	-881.1K	-3.4K	0.25	66.28	20	5	1,208	173
2014-05-06	$15.98	$17.50	29.7%	9.7%	21.0%	24.7%	34.2%	0.9%	4.1%	32.7K	-831.3K	-3.4K	0.00	65.70	0	65	1,208	178
2014-05-07	$15.79	$17.50	38.3%	10.8%	19.4%	57.4%	35.2%	0.9%	-0.5%	31.8K	-697.5K	-3.4K	7.00	67.45	2	14	1,208	243
2014-05-08	$15.62	$17.50	35.0%	10.3%	18.6%	56.0%	0.0%	-0.7%	0.7%	30.7K	-683.8K	-3.4K	0.00	66.72	0	4	1,210	256
2014-05-09	$15.66	$17.50	29.9%	10.4%	18.1%	38.7%	0.0%	14.0%	-0.9%	32.6K	-671.3K	-3.4K	0.00	71.80	1	0	1,210	252
2014-05-12	$16.04	$17.50	42.9%	10.7%	20.7%	82.6%	0.0%	3.8%	0.3%	31.7K	-812.0K	-3.3K	0.00	69.18	0	0	1,211	252
2014-05-13	$15.81	$17.50	38.7%	10.1%	20.8%	68.4%	36.4%	1.2%	2.1%	31.2K	-763.4K	-3.3K	0.00	66.99	0	7	1,211	252
2014-05-14	$16.67	$17.50	42.3%	8.9%	29.2%	80.5%	30.8%	4.9%	0.6%	31.2K	-1.0M	-3.1K	0.03	66.92	250	8	1,211	256
2014-05-15	$16.86	$17.50	32.5%	9.3%	29.3%	47.5%	39.8%	8.1%	-0.3%	28.9K	-1.1M	-3.1K	0.00	66.16	0	59	1,156	257
2014-05-16	$16.91	$17.50	32.8%	9.4%	29.1%	48.5%	0.0%	8.1%	0.2%	28.7K	-1.1M	-2.9K	2.00	68.50	2	4	1,156	225
2014-05-19	$16.88	$17.50	32.1%	9.2%	28.8%	46.1%	0.0%	8.5%	0.4%	28.4K	-1.1M	-2.8K	0.00	68.28	0	0	1,155	218
2014-05-20	$16.73	$17.50	33.2%	9.5%	28.9%	49.9%	0.0%	-5.8%	-0.3%	29.9K	-1.1M	-2.9K	0.00	72.12	0	0	1,155	218
2014-05-21	$17.00	$17.50	33.3%	9.6%	29.0%	50.3%	0.0%	-1.4%	-0.7%	28.9K	-1.1M	-2.8K	0.00	72.50	0	0	1,155	218
2014-05-22	$17.21	$17.50	32.4%	9.3%	29.3%	47.0%	0.0%	0.5%	0.5%	29.6K	-1.2M	-2.6K	0.00	71.75	0	0	1,155	218
2014-05-23	$17.30	$17.50	33.6%	9.6%	29.3%	51.3%	0.0%	2.9%	-1.8%	26.8K	-1.3M	-2.5K	0.00	73.03	0	0	1,155	218
2014-05-27	$17.90	$17.50	33.1%	9.5%	27.9%	49.6%	0.0%	8.4%	-0.3%	22.0K	-1.5M	-2.1K	0.00	64.74	113	0	1,155	218
2014-05-28	$18.44	$17.50	35.6%	10.2%	27.7%	58.0%	0.0%	13.1%	-2.0%	18.4K	-1.5M	-1.9K	0.00	66.71	107	0	1,093	218
2014-05-29	$18.32	$17.50	36.2%	10.4%	28.1%	59.9%	0.0%	7.7%	-3.3%	17.4K	-1.4M	-1.9K	0.00	103.37	327	0	1,062	218
2014-05-30	$18.37	$17.50	26.2%	7.5%	28.1%	26.2%	0.0%	3.0%	10.8%	17.4K	-1.5M	-1.9K	0.00	104.31	1	0	1,061	218