Venture Global Put Buyers Gain Nearly $2 Million as Shares Slump

An investor who bought a large number of Venture Global Inc. put options last week is sitting on a paper profit of almost $2 million after shares plunged early Friday.

The liquefied natural gas developer’s stock dropped as much as 23% after the company lost an arbitration dispute with BP Plc over the sale of cargoes. It was a surprise, since Venture Global had prevailed in a similar case against Shell Plc.

Read more: Venture Global Sinks After Losing to BP in Fight Over LNG Sales

On Oct. 2, about 20,000 lots of February $10 puts were bought for ...