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%
23.18
−34.8%
16%
29.41
−17.3%
25%
32.35
−9.0%
50% (median)
36.22
+1.9%
75%
39.02
+9.7%
84%
40.20
+13.1%
95%
42.55
+19.6%
MOVE
Move Odds
Up 5% or more (37.34)
40%
Up 10% or more (39.11)
24%
Down 5% or more (33.78)
32%
Down 10% or more (32.00)
24%
Options price a 10%+ drop at 24%, 1.0× 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.