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%
14.54
−16.7%
16%
15.96
−8.6%
25%
16.51
−5.5%
50% (median)
17.55
+0.5%
75%
18.69
+7.0%
84%
19.40
+11.1%
95%
23.94
+37.1%
MOVE
Move Odds
Up 5% or more (18.33)
31%
Up 10% or more (19.21)
18%
Down 5% or more (16.59)
27%
Down 10% or more (15.71)
13%
Options price a 10%+ drop at 13%, 0.7× the 20% 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.