How did this fund lose so much money from losing money buying puts during Covid crash?

I closed out 28th Feb -ironically my strategy always won when the price increased, up until then. Last month- same deal, but having been emasculated I'm taking baby steps again. I'm a lousy trader

 

you can’t be short vol biased and not take a few lumps.

 

Exogenous events are impossible to evaluate, but the only people warning about Covid in my news feed was Remy Martin!

 

There are ways to structure crash protection with off setting shorts. I prefer a short put spread against owing two long term puts.
Here's a backtest of that structure: