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%
19.96
−31.0%
16%
24.47
−15.5%
25%
26.77
−7.5%
50% (median)
29.02
+0.2%
75%
30.95
+6.9%
84%
32.23
+11.3%
95%
37.19
+28.5%
MOVE
Move Odds
Up 5% or more (30.40)
31%
Up 10% or more (31.85)
18%
Down 5% or more (27.50)
31%
Down 10% or more (26.06)
21%
Options price a 10%+ drop at 21%, 1.1× the 19% 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.