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%
16.43
−31.2%
16%
20.86
−12.7%
25%
21.99
−8.0%
50% (median)
23.88
−0.0%
75%
25.77
+7.9%
84%
26.87
+12.5%
95%
30.72
+28.6%
MOVE
Move Odds
Up 5% or more (25.09)
33%
Up 10% or more (26.28)
20%
Down 5% or more (22.70)
33%
Down 10% or more (21.50)
21%
Options price a 10%+ drop at 21%, 1.0× the 21% 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.