I do not know about how it affects the market, meaning the effect from other option holders out there.
Yes, the share prices are now way below the strike prices of my cash-covered puts. This means I already lost money, compared to not doing these options. I always mark to market, and the losses are already accounted for.
So, unless the market rises significantly by Feb 16 expiry date, which is highly unlikely now, I will be the proud owner of these shares. This will drive up my stock AA to 70% or higher.
PS. Funny thing about loss/gain accounting of the options is that as the option time value dies out as the expiry approaches, my losses on these put options are reduced with time, compared to what I suffer now. It only gets better from here.