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%
22.54
−40.7%
16%
27.98
−26.3%
25%
30.86
−18.8%
50% (median)
36.61
−3.6%
75%
41.15
+8.3%
84%
42.78
+12.6%
95%
44.96
+18.3%
MOVE
Move Odds
Up 5% or more (39.89)
32%
Up 10% or more (41.79)
21%
Down 5% or more (36.09)
47%
Down 10% or more (34.19)
38%
Options price a 10%+ drop at 38%, 0.8× the 47% 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.