This question is asked as a follow-up to the question below; How can this stock have an intra-day range of more than 90% on 24Aug2015?
BKCC had a 90% price fluctuation on 24Aug2015 and some buy orders were cancelled by the exchange. I wonder if those buyers who bought at the lows and sold at the highs were slapped with a short-sell order even though it is not their fault. Will they lose money as a result?
As mentioned in the comments: According to the message from the exchange all trades at or below $5.86 that were executed in NASDAQ between 09:38:00 and 09:46:00 ET got canceled. If the short doesn't fall into those criteria but the long does, though luck the long is invalid, the short is valid. Traders that got the short end of the stick in the end, should contact their brokers and inquire about this situation. Depending on the terms of the broker the short might get canceled as well. If not, then it's up to the market. The trader can keep or close the short.
IMO, what the person in question should have done is hold on to the trade and see what happens at the end of the trading day. He should've realized something was wrong when the price went from 8.xx to 0.8x.
