Hedge

What are your thoughts about hedging strategy? 
In general, there are 3 different strategy of hedging which is diversifying your portfolio asset class, hedging with pair trade or hedging with option/futures. https://www.wikihow.com/Hedge-in-Investments
I am still learning how to find great businesses (value investing) and will continue focus on it for first few years. However, I am not sure in the future when my capital is big, should I start learning how to hedge. I am leaning towards the 1st and 3rd strategy

For the 1st strategy, a good reference would be Ray Dailio portfolio allocation.
For the 3rd strategy, the basic concept is if the stock (Stock A) you bought (after you did a proper fundamental analysis) suddenly go for a down trend due to some news, or perhaps trade war where retail investor panics and sell but you see this as a temporary setback, you set a put option to make some quick profit so when it reverses to uptrend, you sell the option and buy more of Stock A to average down your purchase price.
So back to my main question, what are your thoughts about this and do you think this is a better approach than just being in the stock market?