- Sell the position for a profit.
- Do nothing, continue to hold the position
- Roll down - sell the put, keep the initial investment and from the profit buy an out-of-the-monney put.
- Spread - create a spread buy selling an out-of -the-money put against the long put position.
- Combine - buy a call with a lower strike price and continue to hold the put posittion.
The table below summarizes which solution is the best depending on how the stock moves: