Shaded band: the middle 68% of outcomes. Where the blue curve sits above the dashed one, options price that move as likelier than a plain bell curve would.
TGT
Target Price
PCTL
Percentiles
Chance below
Price
vs spot
5%
4.53
−53.2%
16%
6.70
−30.7%
25%
7.59
−21.5%
50% (median)
9.39
−2.9%
75%
11.43
+18.2%
84%
12.65
+30.8%
95%
16.68
+72.5%
MOVE
Move Odds
Up 5% or more (10.15)
39%
Up 10% or more (10.64)
33%
Down 5% or more (9.19)
47%
Down 10% or more (8.70)
40%
Options price a 10%+ drop at 40%, 1.0× the 40% a bell curve with the same volatility gives.
Risk-neutral odds from option prices, the bot's lgf odds method: out-of-the-money mids → implied vols → a smoothed smile in total variance → density = erT·∂²C/∂K² (Breeden–Litzenberger). Risk-neutral odds include the market's risk premium, so they lean bearish compared with real-world odds. Not investment advice.