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For example, if they give you the size of an up move as 1.33 then the formula would come out (let's say risk free rate is 5%)

1+.05-(1/1.33) / 1.33-.75 = .51 So the risk neutral probability of an up move (pi) is 51%

If they give the movement size as a percent, the above formula doesn't work. So how do you do it when they give the movement size as a percent instead.

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