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%
20.53
−46.3%
16%
32.00
−16.3%
25%
34.64
−9.4%
50% (median)
38.54
+0.8%
75%
42.23
+10.5%
84%
44.37
+16.1%
95%
53.48
+39.9%
MOVE
Move Odds
Up 5% or more (40.13)
38%
Up 10% or more (42.04)
26%
Down 5% or more (36.31)
34%
Down 10% or more (34.40)
24%
Options price a 10%+ drop at 24%, 0.9× 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.