I am trading a smaller part of my portfolio with a very specific and proven strategy I have devised myself. So have traded options for a while. 1 thing that have always struck me is how deep in the money puts, you obviously have alot less chance of losing your total position. But there is a much better risk reward often (not always) in options that trade in an area where its still expected to be in the money at some point, but isnt at the point of buying. these hold up value better than in the money puts for a long long ride in the reverse way for you.. only when it comes very unlikely that you option will ever expire in the money will the first option be better.
on the other hand, if the stack falls you often stand to earn alot more på having an out of the money put.
So basically I would rather have half the size on my position and then have an out of the money option than having a deep in the money option.