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.
| Chance below | Price | vs spot |
|---|---|---|
| 5% | 83.34 | −26.9% |
| 16% | 99.07 | −13.1% |
| 25% | 104.15 | −8.7% |
| 50% (median) | 113.73 | −0.3% |
| 75% | 123.69 | +8.4% |
| 84% | 129.27 | +13.3% |
| 95% | 144.82 | +27.0% |
| Up 5% or more (119.76) | 34% |
|---|---|
| Up 10% or more (125.47) | 22% |
| Down 5% or more (108.36) | 35% |
| Down 10% or more (102.65) | 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.