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%
7.37
−40.4%
16%
9.47
−23.4%
25%
10.32
−16.6%
50% (median)
12.09
−2.3%
75%
14.04
+13.5%
84%
15.11
+22.1%
95%
17.94
+45.0%
MOVE
Move Odds
Up 5% or more (12.99)
37%
Up 10% or more (13.61)
30%
Down 5% or more (11.75)
45%
Down 10% or more (11.13)
36%
Options price a 10%+ drop at 36%, 1.0× the 37% 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.