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%
12.67
−35.8%
16%
15.18
−23.1%
25%
16.56
−16.1%
50% (median)
19.24
−2.6%
75%
22.12
+12.0%
84%
23.75
+20.3%
95%
28.81
+45.9%
MOVE
Move Odds
Up 5% or more (20.73)
36%
Up 10% or more (21.72)
28%
Down 5% or more (18.76)
45%
Down 10% or more (17.77)
35%
Options price a 10%+ drop at 35%, 1.0× the 37% 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.