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%
28.81
−34.6%
16%
36.26
−17.7%
25%
38.92
−11.7%
50% (median)
44.06
−0.0%
75%
49.41
+12.1%
84%
52.34
+18.8%
95%
59.87
+35.8%
MOVE
Move Odds
Up 5% or more (46.27)
39%
Up 10% or more (48.48)
29%
Down 5% or more (41.87)
39%
Down 10% or more (39.66)
28%
Options price a 10%+ drop at 28%, 0.9× the 31% 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.