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%
28.60
−30.0%
16%
33.54
−17.9%
25%
36.30
−11.2%
50% (median)
40.85
−0.0%
75%
41.14
+0.7%
84%
58.79
+43.8%
95%
72.42
+77.2%
MOVE
Move Odds
Up 5% or more (42.91)
17%
Up 10% or more (44.96)
17%
Down 5% or more (38.83)
34%
Down 10% or more (36.78)
27%
Options price a 10%+ drop at 27%, 0.8× the 32% 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.