There is an interesting characteristic of the US stock market—if you have patience, there is always a chance to turn things around.

But this statement has a prerequisite. The exception is for options buyers. Once short-term options expire, the loss becomes a certainty, and there is no possibility of breaking even. Time decay is a ruthless factor in the later stages.

In contrast, holders of the underlying stocks, or players who sell puts or calls, are different. They can endure; if the cycle is long enough, they can wait for a rebound. With a reasonable strategy, these methods all have the chance to get through tough times.

The key is still choosing the right approach.