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%
8.68
−70.5%
16%
14.18
−51.8%
25%
22.01
−25.2%
50% (median)
27.81
−5.4%
75%
33.13
+12.7%
84%
37.11
+26.2%
95%
65.40
+122.4%
MOVE
Move Odds
Up 5% or more (30.88)
34%
Up 10% or more (32.35)
28%
Down 5% or more (27.93)
51%
Down 10% or more (26.46)
43%
Options price a 10%+ drop at 43%, 1.0× the 44% 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.