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.
| Chance below | Price | vs spot |
|---|---|---|
| 5% | 88.69 | −24.3% |
| 16% | 98.65 | −15.8% |
| 25% | 103.59 | −11.6% |
| 50% (median) | 118.30 | +0.9% |
| 75% | 132.07 | +12.7% |
| 84% | 135.03 | +15.2% |
| 95% | 144.69 | +23.4% |
| Up 5% or more (123.08) | 41% |
|---|---|
| Up 10% or more (128.94) | 31% |
| Down 5% or more (111.36) | 38% |
| Down 10% or more (105.50) | 28% |
Options price a 10%+ drop at 28%, 1.1× the 25% 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.