Buying put options doesn’t require short covering like traditional short selling does. We opened the position because the odds and risk-reward ratio are favorable. Currently, we anticipate that market volatility will continue to rise, so we are buying puts with a small position. If the market starts to decline (accompanied by a spike in VIX), this position can benefit from gains in Delta, IV, and Gamma. However, if there is a volatility collapse (which we haven’t seen any confirmation signals for yet), we will short volatility. At this point, we are reluctant to go long on the S&P 500 because the risk-reward ratio is not very attractive. Happy trading 
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