I took on protection as my triggers were met. However, the trigger was most likely achieved by the re-pricing of the Vix index instead of real decline in fear. Regardless, I protected my positions.
The lingering question still remains... how severe will this correction be? I see AAPL and GOOG with very nice consolidations already. This leads me to question the size of the market consolidation. I have not closed out the bullish call options I have on these names.