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%
15.40
−24.5%
16%
17.86
−12.5%
25%
19.02
−6.7%
50% (median)
20.49
+0.5%
75%
21.81
+6.9%
84%
22.59
+10.7%
95%
27.00
+32.3%
MOVE
Move Odds
Up 5% or more (21.42)
31%
Up 10% or more (22.44)
17%
Down 5% or more (19.38)
30%
Down 10% or more (18.36)
19%
Options price a 10%+ drop at 19%, 1.1× the 18% 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.