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% | 60.35 | −18.6% |
| 16% | 67.59 | −8.9% |
| 25% | 70.55 | −4.9% |
| 50% (median) | 74.56 | +0.5% |
| 75% | 77.95 | +5.1% |
| 84% | 79.69 | +7.4% |
| 95% | 84.22 | +13.5% |
| Up 5% or more (77.88) | 25% |
|---|---|
| Up 10% or more (81.59) | 10% |
| Down 5% or more (70.46) | 25% |
| Down 10% or more (66.75) | 14% |
Options price a 10%+ drop at 14%, 1.7× the 8.6% 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.