I had some old hanging-basket frames that I got at a a garage sale, and I have successfully used two of these to create a cage in which to hang the peanut feeder. It's aimed at protecting from squirrels, which don't just take the nuts but will pull apart the whole feeder, or knock it down and hide or remove it.
I'm now considering making a second one to protect the fatballs from the jackdaws and magpies, who demolish them in no time, but I can't decide whether I'm just bieng soppy in wanting the tits and finches to have first peck at them.