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% | 135.03 | −16.1% |
| 16% | 146.61 | −8.9% |
| 25% | 151.50 | −5.8% |
| 50% (median) | 160.50 | −0.2% |
| 75% | 169.59 | +5.4% |
| 84% | 174.51 | +8.5% |
| 95% | 188.33 | +17.1% |
| Up 5% or more (168.93) | 26% |
|---|---|
| Up 10% or more (176.98) | 13% |
| Down 5% or more (152.85) | 28% |
| Down 10% or more (144.80) | 14% |
Options price a 10%+ drop at 14%, 1.0× the 13% 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.