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%
7.82
−53.5%
16%
12.45
−25.9%
25%
14.95
−11.0%
50% (median)
17.41
+3.6%
75%
19.36
+15.2%
84%
20.44
+21.6%
95%
25.52
+51.9%
MOVE
Move Odds
Up 5% or more (17.65)
47%
Up 10% or more (18.49)
35%
Down 5% or more (15.96)
33%
Down 10% or more (15.12)
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.