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%
7.41
−55.9%
16%
13.47
−19.7%
25%
14.48
−13.8%
50% (median)
16.16
−3.7%
75%
17.90
+6.6%
84%
18.98
+13.1%
95%
23.51
+40.1%
MOVE
Move Odds
Up 5% or more (17.62)
28%
Up 10% or more (18.46)
20%
Down 5% or more (15.95)
46%
Down 10% or more (15.11)
33%
Options price a 10%+ drop at 33%, 0.9× the 38% 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.