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%
31.65
−34.6%
16%
38.03
−21.4%
25%
41.29
−14.7%
50% (median)
48.04
−0.7%
75%
55.03
+13.7%
84%
58.54
+20.9%
95%
66.39
+37.2%
MOVE
Move Odds
Up 5% or more (50.82)
39%
Up 10% or more (53.24)
31%
Down 5% or more (45.98)
42%
Down 10% or more (43.56)
33%
Options price a 10%+ drop at 33%, 1.0× the 34% 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.