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%
11.55
−34.1%
16%
14.54
−17.1%
25%
16.79
−4.3%
50% (median)
17.01
−3.0%
75%
18.77
+7.0%
84%
18.82
+7.3%
95%
30.33
+73.0%
MOVE
Move Odds
Up 5% or more (18.41)
35%
Up 10% or more (19.29)
8.6%
Down 5% or more (16.66)
24%
Down 10% or more (15.78)
19%
Options price a 10%+ drop at 19%, 0.6× the 31% 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.