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%
30.94
−24.4%
16%
36.12
−11.8%
25%
37.54
−8.3%
50% (median)
40.04
−2.2%
75%
42.73
+4.4%
84%
44.49
+8.7%
95%
56.19
+37.2%
MOVE
Move Odds
Up 5% or more (42.99)
23%
Up 10% or more (45.03)
14%
Down 5% or more (38.89)
37%
Down 10% or more (36.85)
20%
Options price a 10%+ drop at 20%, 0.8× the 27% 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.