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%
6.34
−54.0%
16%
10.63
−22.9%
25%
11.93
−13.3%
50% (median)
13.72
−0.3%
75%
15.46
+12.2%
84%
16.54
+20.1%
95%
23.08
+67.6%
MOVE
Move Odds
Up 5% or more (14.46)
38%
Up 10% or more (15.15)
29%
Down 5% or more (13.08)
40%
Down 10% or more (12.40)
30%
Options price a 10%+ drop at 30%, 0.9× the 32% 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.