How did they lose money?
Monday morning puts were down - it was obvious the market was recovering in a big way. Instead of cutting losses at ~20% in the morning they lost ~99% of their position. Some lost 100% since the options expired EOD.
Was it? Markets started up today but ended way lower.
So now you also have people making decisions based on the wrong data.
Honestly I dont see how this doesnt turn into a lawsuit.