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%
28.86
−32.1%
16%
34.43
−19.0%
25%
36.89
−13.2%
50% (median)
42.05
−1.0%
75%
47.68
+12.2%
84%
50.73
+19.4%
95%
58.45
+37.6%
MOVE
Move Odds
Up 5% or more (44.61)
38%
Up 10% or more (46.74)
28%
Down 5% or more (40.37)
41%
Down 10% or more (38.24)
31%
Options price a 10%+ drop at 31%, 1.0× the 32% 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.