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%
20.34
−26.6%
16%
22.45
−18.9%
25%
23.63
−14.7%
50% (median)
23.99
−13.4%
75%
24.07
−13.1%
84%
32.40
+17.0%
95%
33.49
+20.9%
MOVE
Move Odds
Up 5% or more (29.09)
22%
Up 10% or more (30.47)
22%
Down 5% or more (26.31)
78%
Down 10% or more (24.93)
78%
Options price a 10%+ drop at 78%, 1.5× the 51% 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.