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%
35.76
−30.3%
16%
43.03
−16.1%
25%
46.53
−9.3%
50% (median)
51.73
+0.8%
75%
56.50
+10.1%
84%
59.13
+15.2%
95%
67.74
+32.0%
MOVE
Move Odds
Up 5% or more (53.88)
38%
Up 10% or more (56.44)
25%
Down 5% or more (48.74)
34%
Down 10% or more (46.18)
24%
Options price a 10%+ drop at 24%, 1.0× the 24% 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.