The second option here is generally the better of the two. Adding twists is a balancing act, and often doesn't get you exactly where you want to be, and naturally, adding or removing twists will change your string length, which can have other impacts.

But other than that, I never have thought that the rubber tube peeps were a good idea, never have used one. I'd rather use a horizontal style peep that will ALWAYS be aligned when drawn (worst thing you could run into is the string splitting your FOV, which doesn't block the view, just darkens/blurs it slightly).

Best option is to just get a peep that is properly installed and won't require any secondary alignment aid. (Note: for a $7 tool-or even a silver spoon-and some serving line, you can install your open peeps, without pressing the bow. Also note: new strings will usually need the peep reset after 50-100 pins, as the string stretches, the peep will turn slightly, so you need to correct it).