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%
18.28
−48.2%
16%
29.62
−16.1%
25%
32.20
−8.8%
50% (median)
36.00
+1.9%
75%
39.75
+12.5%
84%
42.12
+19.2%
95%
60.41
+71.0%
MOVE
Move Odds
Up 5% or more (37.09)
42%
Up 10% or more (38.85)
30%
Down 5% or more (33.55)
32%
Down 10% or more (31.79)
23%
Options price a 10%+ drop at 23%, 1.0× the 23% 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.