EP stands for Exercise Put option, doesn't it? And that means the holders of the Put option decided to sell their shares at those prices. Is that right?
But I don't see the connection between this and your statement "This is negative all around so it's obvious that shorters would closed some of their older shorters to lock in profits".
Please don't go around the mulberry bush. Just explain to me in simple words why shorters would closed some of their older shorters to lock in profits when it is negative all around. As far as I know, if it is negative all around, shorters would keep their short position open waiting for a further fall of the sp.
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