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.
| Chance below | Price | vs spot |
|---|---|---|
| 5% | 238.98 | −22.8% |
| 16% | 268.58 | −13.3% |
| 25% | 281.33 | −9.1% |
| 50% (median) | 307.17 | −0.8% |
| 75% | 334.08 | +7.9% |
| 84% | 348.18 | +12.5% |
| 95% | 383.09 | +23.7% |
| Up 5% or more (325.09) | 32% |
|---|---|
| Up 10% or more (340.57) | 20% |
| Down 5% or more (294.13) | 37% |
| Down 10% or more (278.65) | 23% |
Options price a 10%+ drop at 23%, 0.9× the 24% 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.