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%
5.73
−52.1%
16%
7.71
−35.4%
25%
8.75
−26.8%
50% (median)
11.23
−6.0%
75%
14.42
+20.7%
84%
16.34
+36.8%
95%
22.08
+84.8%
MOVE
Move Odds
Up 5% or more (12.55)
38%
Up 10% or more (13.14)
33%
Down 5% or more (11.35)
51%
Down 10% or more (10.75)
45%
Options price a 10%+ drop at 45%, 1.0× the 46% 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.