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%
8.04
−45.5%
16%
9.84
−33.3%
25%
10.34
−29.9%
50% (median)
14.11
−4.4%
75%
17.98
+21.8%
84%
18.71
+26.8%
95%
22.72
+54.0%
MOVE
Move Odds
Up 5% or more (15.49)
43%
Up 10% or more (16.23)
39%
Down 5% or more (14.02)
50%
Down 10% or more (13.28)
45%
Options price a 10%+ drop at 45%, 0.9× the 51% 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.