Logit
Definition
The log-odds transform of a probability: ln(p / (1 − p)). Maps the bounded 0–1 probability scale onto an unbounded scale where moves are comparable.
On Logit Terminal
All movement, volatility, and reversion statistics on Logit Terminal are computed on logit changes rather than raw cents.
Caveat
Logit math cannot repair thin or stale data; prices are clamped to 1–99¢ before transformation.