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%
8.53
−31.8%
16%
11.32
−9.6%
25%
11.83
−5.4%
50% (median)
12.55
+0.3%
75%
13.17
+5.2%
84%
13.49
+7.8%
95%
14.50
+15.9%
MOVE
Move Odds
Up 5% or more (13.14)
26%
Up 10% or more (13.76)
11%
Down 5% or more (11.89)
26%
Down 10% or more (11.26)
15%
Options price a 10%+ drop at 15%, 1.2× the 13% 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.