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.
| Chance below | Price | vs spot |
|---|---|---|
| 5% | 157.73 | −16.8% |
| 16% | 171.30 | −9.6% |
| 25% | 177.34 | −6.4% |
| 50% (median) | 189.78 | +0.1% |
| 75% | 202.82 | +7.0% |
| 84% | 209.61 | +10.6% |
| 95% | 225.92 | +19.2% |
| Up 5% or more (198.98) | 31% |
|---|---|
| Up 10% or more (208.45) | 17% |
| Down 5% or more (180.03) | 30% |
| Down 10% or more (170.55) | 15% |
Options price a 10%+ drop at 15%, 1.0× the 15% 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.