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%
33.43
−23.5%
16%
37.07
−15.2%
25%
39.33
−10.0%
50% (median)
43.71
−0.0%
75%
48.18
+10.2%
84%
50.35
+15.2%
95%
54.87
+25.5%
MOVE
Move Odds
Up 5% or more (45.91)
37%
Up 10% or more (48.09)
25%
Down 5% or more (41.53)
37%
Down 10% or more (39.35)
25%
Options price a 10%+ drop at 25%, 1.0× the 26% 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.