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%
13.16
−30.3%
16%
15.49
−18.0%
25%
16.84
−10.8%
50% (median)
18.88
−0.0%
75%
20.76
+9.9%
84%
21.79
+15.4%
95%
25.19
+33.4%
MOVE
Move Odds
Up 5% or more (19.83)
36%
Up 10% or more (20.77)
25%
Down 5% or more (17.94)
37%
Down 10% or more (17.00)
26%
Options price a 10%+ drop at 26%, 1.0× the 26% 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.