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%
27.83
−44.9%
16%
35.61
−29.5%
25%
40.38
−20.1%
50% (median)
49.44
−2.1%
75%
58.91
+16.6%
84%
64.12
+26.9%
95%
78.09
+54.6%
MOVE
Move Odds
Up 5% or more (53.05)
39%
Up 10% or more (55.57)
33%
Down 5% or more (47.99)
46%
Down 10% or more (45.47)
38%
Options price a 10%+ drop at 38%, 0.9× the 40% 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.