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%
10.65
−42.5%
16%
14.59
−21.2%
25%
16.56
−10.5%
50% (median)
18.43
−0.4%
75%
20.02
+8.1%
84%
21.12
+14.1%
95%
23.82
+28.6%
MOVE
Move Odds
Up 5% or more (19.44)
33%
Up 10% or more (20.37)
21%
Down 5% or more (17.59)
36%
Down 10% or more (16.66)
26%
Options price a 10%+ drop at 26%, 0.9× the 28% 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.