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% | 780.94 | −21.0% |
| 16% | 867.34 | −12.3% |
| 25% | 906.40 | −8.4% |
| 50% (median) | 987.25 | −0.2% |
| 75% | 1,073.92 | +8.6% |
| 84% | 1,120.54 | +13.3% |
| 95% | 1,239.22 | +25.3% |
| Up 5% or more (1,038.49) | 34% |
|---|---|
| Up 10% or more (1,087.94) | 22% |
| Down 5% or more (939.59) | 35% |
| Down 10% or more (890.14) | 21% |
Options price a 10%+ drop at 21%, 0.9× the 23% 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.