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%
9.69
−47.9%
16%
13.08
−29.7%
25%
15.72
−15.5%
50% (median)
19.37
+4.1%
75%
22.56
+21.2%
84%
24.22
+30.1%
95%
29.02
+56.0%
MOVE
Move Odds
Up 5% or more (19.54)
49%
Up 10% or more (20.47)
41%
Down 5% or more (17.68)
37%
Down 10% or more (16.75)
31%
Options price a 10%+ drop at 31%, 1.0× the 30% 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.