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%
7.73
−39.1%
16%
9.79
−22.8%
25%
10.89
−14.1%
50% (median)
12.03
−5.1%
75%
13.13
+3.5%
84%
13.92
+9.8%
95%
25.59
+101.8%
MOVE
Move Odds
Up 5% or more (13.31)
22%
Up 10% or more (13.95)
16%
Down 5% or more (12.05)
51%
Down 10% or more (11.41)
34%
Options price a 10%+ drop at 34%, 1.0× the 36% 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.