Market going up, why sell all the longs. Plus, look at vix, $cpce, option trading for the last few days. Tons naked put being bought (you mean got covered?). Put option OI is dropping every day (really? I don't see that, except those out of the money puts generated during the crash).
In other word, protection is in place, then why should I sell my stocks which I have been hold since Feb correction. Not going to sell until I see 1-2-3 market trend reversal.