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% | 57.48 | −25.2% |
| 16% | 64.78 | −15.7% |
| 25% | 68.48 | −10.9% |
| 50% (median) | 76.57 | −0.3% |
| 75% | 85.10 | +10.8% |
| 84% | 89.33 | +16.3% |
| 95% | 98.33 | +28.0% |
| Up 5% or more (80.66) | 37% |
|---|---|
| Up 10% or more (84.50) | 26% |
| Down 5% or more (72.98) | 38% |
| Down 10% or more (69.14) | 27% |
Options price a 10%+ drop at 27%, 0.9× the 30% 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.