How to best protect a portfolio to the downside

I’m interested in finding out what is the best / easiest / cheapest way to get some downside protection for my portfolio.

I’m only a little familiar with options. I know I could buy LEAPs on SPY or similar index ETF, but is this my best choice?

I don’t want to move to cash and risk the market continuing to rise – the problem there is you have to get the timing right twice. Exit somewhere near a top and then get back in somewhere near a bottom. Very hard to do. There are people who got out in 2008 and are still waiting to re-enter.

I figure we are seriously overdue for a decent correction, however, I don’t know when, from what level, for how long and how deep that correction may go. I figure my best choice is to just find the longest dated protection I can find.

Any other advice or suggestions? Are long dated puts the best choice?

Thanks!