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%
4.62
−56.3%
16%
6.97
−34.1%
25%
7.97
−24.6%
50% (median)
10.10
−4.4%
75%
12.55
+18.7%
84%
13.95
+31.9%
95%
17.93
+69.6%
MOVE
Move Odds
Up 5% or more (11.10)
39%
Up 10% or more (11.63)
33%
Down 5% or more (10.04)
49%
Down 10% or more (9.51)
43%
Options price a 10%+ drop at 43%, 1.0× the 45% 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.