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%
17.98
−37.4%
16%
24.13
−16.0%
25%
25.66
−10.7%
50% (median)
28.38
−1.2%
75%
31.32
+9.1%
84%
33.19
+15.6%
95%
44.56
+55.1%
MOVE
Move Odds
Up 5% or more (30.16)
33%
Up 10% or more (31.59)
23%
Down 5% or more (27.28)
39%
Down 10% or more (25.85)
26%
Options price a 10%+ drop at 26%, 0.8× the 32% 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.