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%
45.25
−45.1%
16%
65.67
−20.3%
25%
72.03
−12.6%
50% (median)
81.94
−0.5%
75%
91.52
+11.1%
84%
97.04
+17.8%
95%
115.01
+39.6%
MOVE
Move Odds
Up 5% or more (86.50)
37%
Up 10% or more (90.62)
27%
Down 5% or more (78.27)
40%
Down 10% or more (74.15)
29%
Options price a 10%+ drop at 29%, 0.9× the 32% 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.