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%
17.13
−25.9%
16%
20.72
−10.3%
25%
21.65
−6.3%
50% (median)
23.26
+0.6%
75%
24.78
+7.2%
84%
25.57
+10.7%
95%
27.80
+20.3%
MOVE
Move Odds
Up 5% or more (24.27)
33%
Up 10% or more (25.42)
17%
Down 5% or more (21.95)
29%
Down 10% or more (20.80)
17%
Options price a 10%+ drop at 17%, 1.0× the 17% 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.