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%
5.82
−41.9%
16%
7.93
−20.8%
25%
8.64
−13.8%
50% (median)
9.98
−0.4%
75%
11.38
+13.6%
84%
12.14
+21.2%
95%
14.25
+42.2%
MOVE
Move Odds
Up 5% or more (10.52)
39%
Up 10% or more (11.02)
30%
Down 5% or more (9.52)
41%
Down 10% or more (9.02)
31%
Options price a 10%+ drop at 31%, 0.9× 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.