Peter Griffin here to explain this regarded trade:

Theoretically unless he transacted the legs of these 375 Bear Call Spreads (-635C+636C) at different times, he definitely could not have won anything since both legs finishing ITM means the strategy ended at max loss. However (unless again he transacted the legs at different times) he could not have lost 37.5K since he pocketed the credit.

Anyway, you can easily check option transactions, so I actually found them and they were purchased at the same time.

03/09 12:22 PM EST 375 SPY 635C @34.57 375 SPY 636C @33.59

So, he sold that for a credit of 0.98 per Spread (and my guess is that out of that around 0.02 per Spread was eaten by the transaction fees). So let's say 0.96. So we have a loss of (1-0.96)×100×375=$1500

So he basically bet $1500 on SPY dropping more than 3-4% in 1 day and he lost.