I found the issue.
When selecting those settings in the options it only affects new threads you post in. All previous threads that you've posted in before changing the settings will still have the old settings in place for that thread. I had to go into my subscriptions, and select all the threads that said Instant to No Emails. Now all the threads I have already posted in are set to no emails, and the setting in the User CP will prevent any future threads from sending notifications. I hope this helps anyone who's trying to figure it out as well.