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%
25.78
−49.8%
16%
35.70
−30.6%
25%
39.97
−22.3%
50% (median)
48.90
−4.9%
75%
58.71
+14.2%
84%
64.04
+24.6%
95%
77.78
+51.3%
MOVE
Move Odds
Up 5% or more (53.98)
36%
Up 10% or more (56.55)
30%
Down 5% or more (48.84)
50%
Down 10% or more (46.27)
42%
Options price a 10%+ drop at 42%, 0.9× the 45% 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.