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%
11.54
−34.2%
16%
13.09
−25.4%
25%
14.11
−19.6%
50% (median)
16.83
−4.1%
75%
20.50
+16.8%
84%
22.63
+28.9%
95%
27.74
+58.1%
MOVE
Move Odds
Up 5% or more (18.43)
38%
Up 10% or more (19.31)
32%
Down 5% or more (16.67)
49%
Down 10% or more (15.80)
41%
Options price a 10%+ drop at 41%, 1.1× the 39% 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.