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%
28.87
−33.0%
16%
35.30
−18.0%
25%
38.11
−11.5%
50% (median)
42.49
−1.4%
75%
47.03
+9.2%
84%
49.93
+15.9%
95%
67.88
+57.6%
MOVE
Move Odds
Up 5% or more (45.23)
33%
Up 10% or more (47.39)
24%
Down 5% or more (40.93)
40%
Down 10% or more (38.77)
28%
Options price a 10%+ drop at 28%, 1.0× the 29% 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.