I've allocated a small portion of my portfolio to HYG puts to protect against a potential debt crisis or corporate default wave. I chose to position it at the 75 strike @ 162 DTE, with a plan to roll it back to around the same DTE every couple of months. The cost is fairly cheap, and looking back at previous junk bond crashes, I think I've got my strike positioned well while staying low cost. What I'm unsure of is how far out I've got them, and my rolling schedule. Can anyone who uses this strategy chime in with what has been effective for you?