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.
| Chance below | Price | vs spot |
|---|---|---|
| 5% | 275.19 | −26.6% |
| 16% | 314.79 | −16.0% |
| 25% | 332.66 | −11.2% |
| 50% (median) | 370.94 | −1.0% |
| 75% | 414.83 | +10.7% |
| 84% | 440.20 | +17.5% |
| 95% | 517.31 | +38.0% |
| Up 5% or more (393.51) | 36% |
|---|---|
| Up 10% or more (412.25) | 26% |
| Down 5% or more (356.03) | 40% |
| Down 10% or more (337.29) | 28% |
Options price a 10%+ drop at 28%, 0.9× 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.