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%
18.18
−50.7%
16%
30.19
−18.1%
25%
32.87
−10.8%
50% (median)
37.20
+0.9%
75%
42.00
+13.9%
84%
45.35
+23.0%
95%
64.25
+74.3%
MOVE
Move Odds
Up 5% or more (38.70)
41%
Up 10% or more (40.55)
31%
Down 5% or more (35.02)
36%
Down 10% or more (33.17)
26%
Options price a 10%+ drop at 26%, 1.0× the 27% 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.