What should an equity investor be doing in this market when it looks as though things can worsen further?

I think at this time many good stocks have been beaten and have cheap prices which we have thought 4 months earlier. according to you start putting money in beaten sectors like infra and cap goods may be a strategy but i think buying the out-of-the money calls of Bluechips at the rate of lollypop this time is good idea for those who were thinking to buy these stocks earlier. If they buy calls at cheaper rate , they have only the risk of being a call zero and if call become zero , the stock will be at more attractive rate and one can switch to buy the stock and if market does not go more downside then stay with your calls and book the profits at higher rates and buy stock or not option lies always with the investor.