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% | 75.51 | −15.7% |
| 16% | 82.98 | −7.4% |
| 25% | 85.86 | −4.2% |
| 50% (median) | 90.35 | +0.9% |
| 75% | 93.97 | +4.9% |
| 84% | 95.17 | +6.2% |
| 95% | 99.10 | +10.6% |
| Up 5% or more (94.06) | 24% |
|---|---|
| Up 10% or more (98.54) | 6.0% |
| Down 5% or more (85.10) | 22% |
| Down 10% or more (80.62) | 12% |
Options price a 10%+ drop at 12%, 1.4× the 8.5% 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.