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%
33.45
−48.9%
16%
43.34
−33.8%
25%
49.37
−24.6%
50% (median)
65.16
−0.5%
75%
78.04
+19.2%
84%
84.91
+29.7%
95%
108.47
+65.6%
MOVE
Move Odds
Up 5% or more (68.76)
43%
Up 10% or more (72.04)
36%
Down 5% or more (62.22)
44%
Down 10% or more (58.94)
38%
Options price a 10%+ drop at 38%, 0.8× the 45% 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.