Portfolio Hedging

[decipher]

Have been thinking of hedging portfolio systematically.

Gemini gave an idea of using 1-3% of portfolio on 1Y SPY puts (or alternate indexes) at .12 delta. Check monthly, harvest 50% of gains if delta slowly gets to .25 or .35 otherwise leave the hedge alone. During fast crashes, aggressively roll the puts lower (use 4x as the trigger). Similarly, roll the puts higher if delta falls to .05 during recoveries.

I believe 3% hedge comes from Nassim Taleb (author of black swan book). Thinking of using Shiller PE as guidance to adjust percentage of hedge between 1-3%.

Is this a viable hedge? Are there any other commonly used hedging strategies for small portfolios?