All the above. I feed glass minnows back into the chum slick and drift a silverside back on the hook. The glass minnows are a lot cheaper to feed to the fish. I also am a fan of small circle hooks while yellowtailing. Let them start to run, engage the reel and your hooked up.
One caution about dropping a chum BAG to the bottom. I tried that once, hooking the bag to my downrigger ball and lowering it. Had an godawful hit on the downrigger, started peeling off cable and thankfully let go. Cranked it back up and a shark or big cuda had shredded the bag!
Lesson learned: Use a chum cage if your dropping it deep
Tom