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%
73.34
−22.6%
16%
80.61
−14.9%
25%
83.68
−11.7%
50% (median)
90.18
−4.8%
75%
97.89
+3.3%
84%
102.63
+8.3%
95%
119.45
+26.1%
MOVE
Move Odds
Up 5% or more (99.47)
22%
Up 10% or more (104.20)
14%
Down 5% or more (89.99)
49%
Down 10% or more (85.26)
31%
Options price a 10%+ drop at 31%, 1.1× the 27% 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.