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%
1.84
−54.4%
16%
3.03
−24.8%
25%
3.38
−16.3%
50% (median)
3.96
−1.8%
75%
4.56
+13.0%
84%
4.90
+21.5%
95%
6.08
+50.8%
MOVE
Move Odds
Up 5% or more (4.24)
37%
Up 10% or more (4.44)
29%
Down 5% or more (3.83)
44%
Down 10% or more (3.63)
35%
Options price a 10%+ drop at 35%, 0.9× the 38% 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.