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%
26.28
−21.2%
16%
29.51
−11.6%
25%
30.99
−7.1%
50% (median)
33.54
+0.5%
75%
35.92
+7.7%
84%
37.14
+11.3%
95%
40.23
+20.6%
MOVE
Move Odds
Up 5% or more (35.03)
33%
Up 10% or more (36.70)
19%
Down 5% or more (31.70)
31%
Down 10% or more (30.03)
19%
Options price a 10%+ drop at 19%, 1.1× the 17% 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.