Options Question – does this sound like good advice?

I read this on another thread and am not well-versed in options.

Does this sound like a smart thing to do?

Buy SPY puts (0.5% of your portfolio) target price of $413 (30% below) with expiration of 2 months. After a month, sell and repeat. If the market stays normal, those options won't drag your portfolio but if there is a crash, that 0.5% will go up so much, saving your portfolio. The Roth-IRA account is so in case your options go up in value 20X-40X, you won't have to pay capital gains. With that money, you purchase more shares of SP500 fund.

That way, if the SP500 continues to climb, you'll be doing great. The options is to be able to sleep at night knowing you're protected in case of a crash. And most importantly, so you won't spend time looking at stocks all the time. Focus in moving up (career wise) and enjoying life. You can check your portfolio once a month when you're rolling over those options.