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%
27.49
−25.5%
16%
31.27
−15.2%
25%
33.14
−10.1%
50% (median)
36.68
−0.5%
75%
40.34
+9.4%
84%
42.30
+14.7%
95%
47.57
+29.0%
MOVE
Move Odds
Up 5% or more (38.72)
35%
Up 10% or more (40.57)
24%
Down 5% or more (35.04)
38%
Down 10% or more (33.19)
25%
Options price a 10%+ drop at 25%, 1.0× the 26% 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.