I closed out my protection. The main goal was to protect IBM, GS and COST. After the earnings on IBM and GS, IMO, they are at their low points and should be bought, not protected against.
Update: Talk about sucking. Quite literally, 20 minutes after I close out the protection the market tanks. All I can do is see the humor in it. Anyway, at the moment it is where I would have covered regardless, with the SP500 hitting 1125.