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%
12.94
−25.4%
16%
14.48
−16.6%
25%
15.36
−11.5%
50% (median)
17.52
+0.9%
75%
19.59
+12.8%
84%
20.03
+15.4%
95%
21.85
+25.8%
MOVE
Move Odds
Up 5% or more (18.23)
41%
Up 10% or more (19.10)
31%
Down 5% or more (16.49)
38%
Down 10% or more (15.62)
28%
Options price a 10%+ drop at 28%, 1.0× the 29% 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.