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%
14.07
−45.3%
16%
21.96
−14.6%
25%
23.51
−8.5%
50% (median)
25.76
+0.2%
75%
27.81
+8.2%
84%
28.97
+12.7%
95%
33.34
+29.7%
MOVE
Move Odds
Up 5% or more (26.99)
34%
Up 10% or more (28.27)
21%
Down 5% or more (24.42)
33%
Down 10% or more (23.13)
22%
Options price a 10%+ drop at 22%, 0.9× the 25% 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.