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%
15.17
−43.5%
16%
22.49
−16.2%
25%
23.97
−10.7%
50% (median)
26.52
−1.2%
75%
29.22
+8.9%
84%
30.94
+15.3%
95%
40.67
+51.5%
MOVE
Move Odds
Up 5% or more (28.18)
33%
Up 10% or more (29.52)
23%
Down 5% or more (25.50)
39%
Down 10% or more (24.16)
26%
Options price a 10%+ drop at 26%, 0.8× the 32% 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.