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%
8.84
−41.2%
16%
11.83
−21.3%
25%
13.03
−13.3%
50% (median)
14.90
−0.9%
75%
16.73
+11.3%
84%
17.81
+18.5%
95%
21.74
+44.6%
MOVE
Move Odds
Up 5% or more (15.78)
37%
Up 10% or more (16.53)
27%
Down 5% or more (14.28)
41%
Down 10% or more (13.53)
30%
Options price a 10%+ drop at 30%, 0.9× the 35% 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.