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%
3.49
−44.5%
16%
4.35
−30.8%
25%
4.98
−20.7%
50% (median)
6.06
−3.5%
75%
7.24
+15.3%
84%
7.94
+26.4%
95%
10.41
+65.7%
MOVE
Move Odds
Up 5% or more (6.60)
37%
Up 10% or more (6.91)
31%
Down 5% or more (5.97)
48%
Down 10% or more (5.65)
40%
Options price a 10%+ drop at 40%, 1.0× the 41% 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.