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%
17.89
−18.2%
16%
19.38
−11.4%
25%
20.26
−7.4%
50% (median)
21.47
−1.8%
75%
22.59
+3.3%
84%
23.26
+6.4%
95%
26.15
+19.6%
MOVE
Move Odds
Up 5% or more (22.96)
19%
Up 10% or more (24.06)
10%
Down 5% or more (20.78)
34%
Down 10% or more (19.68)
19%
Options price a 10%+ drop at 19%, 0.9× the 21% 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.