Milyunair:

Sounds expensive.

  Typically it is a very expensive hedge all things considered. It's not nearly as expensive as it was in the recent high VIX environment. Even with a low VIX the stock may have significant implied volatility raising the price. The hedge ratio will also have a large influence on cost.    There are much cheaper ways to hedge a stock against loss than a married put BUT it depends on the agenda employed and the length of time the hedge is needed.   Before you married it you may consider using a stop for free. If it's needed for an event like earning or guidance shorting against the box works well. I use all the above often.