Carvana put buyer realizes 13% same-day gains

Notable profits for the buyer who lifted the $0.74 offer for 20,000 Carvana (CVNA) Apr-23 8 puts yesterday at 15:02ET when underlying shares were trading at $9.44. Shares closed at $9.50, and the puts at $0.84 for a mark-to-market profit of 13%, or $198K, on the $1480K outlay.