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% | 105.43 | −24.9% |
| 16% | 117.34 | −16.4% |
| 25% | 123.53 | −12.0% |
| 50% (median) | 137.79 | −1.8% |
| 75% | 154.77 | +10.3% |
| 84% | 164.37 | +17.1% |
| 95% | 189.74 | +35.2% |
| Up 5% or more (147.34) | 35% |
|---|---|
| Up 10% or more (154.35) | 25% |
| Down 5% or more (133.30) | 42% |
| Down 10% or more (126.29) | 30% |
Options price a 10%+ drop at 30%, 1.0× the 30% 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.