Should Felix Hernandez win the Cy Young even with a losing record?

King Felix Hernandez won against the Yankees last night in dominating fashion.He threw 8 innings of shutout ball, striking out 11.He is second in the league with a 2.51 ERA. He had thrown more innings than anyone in the American League.He has one of the lowest WHIPs, is second in strikeouts, and according to Baseball Reference is among the league leaders in a bunch of categories I don't