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%
13.34
−42.0%
16%
16.84
−26.8%
25%
19.44
−15.5%
50% (median)
23.48
+2.1%
75%
27.87
+21.2%
84%
30.82
+34.0%
95%
40.58
+76.4%
MOVE
Move Odds
Up 5% or more (24.16)
45%
Up 10% or more (25.31)
38%
Down 5% or more (21.85)
39%
Down 10% or more (20.70)
32%
Options price a 10%+ drop at 32%, 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.