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% | 50.92 | −17.6% |
| 16% | 55.22 | −10.6% |
| 25% | 58.36 | −5.6% |
| 50% (median) | 63.33 | +2.5% |
| 75% | 65.36 | +5.8% |
| 84% | 65.91 | +6.7% |
| 95% | 66.38 | +7.4% |
| Up 5% or more (64.88) | 32% |
|---|---|
| Up 10% or more (67.97) | 1.5% |
| Down 5% or more (58.70) | 26% |
| Down 10% or more (55.61) | 17% |
Options price a 10%+ drop at 17%, 1.6× the 11% 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.