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%
18.77
−31.9%
16%
22.18
−19.5%
25%
23.77
−13.7%
50% (median)
27.26
−1.1%
75%
31.20
+13.2%
84%
33.38
+21.1%
95%
39.04
+41.6%
MOVE
Move Odds
Up 5% or more (28.94)
38%
Up 10% or more (30.32)
30%
Down 5% or more (26.19)
42%
Down 10% or more (24.81)
32%
Options price a 10%+ drop at 32%, 1.0× the 33% 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.