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%
21.08
−33.5%
16%
24.72
−22.1%
25%
26.74
−15.7%
50% (median)
31.54
−0.6%
75%
36.20
+14.1%
84%
38.75
+22.2%
95%
46.03
+45.1%
MOVE
Move Odds
Up 5% or more (33.31)
40%
Up 10% or more (34.89)
31%
Down 5% or more (30.13)
42%
Down 10% or more (28.55)
33%
Options price a 10%+ drop at 33%, 1.0× the 34% 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.