I have recently inherited a portfolio that contains options. I am a newbie with stocks and options and at this point, I'd rather move the funds into mutual funds until I can fully understand what I'm doing with investing. My question would be, what if anything should I consider before "getting out" of the options. (Assuming I can get out of them).
Options are like playing cards. There are a lot of strategies and ways to play them. Options can be used to reduce risk but they are almost never used this way. Mostly, they are played like the lottery to put big leverage on possible outcomes. It's going to depend on the options, as to how risky they are, but you probably would do well to exit the positions, until you get up to speed. You can usually get out of option positions easily but occasionally they can be difficult to sell or buy back. I'm sorry for your loss and welcome to stockaholics.
Option premiums are also set by some very very smart people and AI. They know stuff you will not find out about until it's too late to know. I agree with everything @TomB16 says about them, except that playing options by retail investors is more like playing the slots in Vegas. You might get lucky, but the machine is programmed to win. Edit for disclosure, I have made a couple or so bucks trading options JUST to profit off the premiums. Edit to also add and clarify, no, I am not one of those I mentioned in the beginning of this post.
The options could be just simple speculative plays, e.g., buying naked calls and puts or more elaborate schemes, vertical spreads, calendar spreads, etc. They may also be hedges on stock holdings or they may be income generators, e.g., selling (writing) covered calls or selling (writing) puts. We have no way of knowing. How you go about unwinding them, the order in which you unwind them, may be significant to minimizing losses or maximizing gains. You should probably seek help from an experienced options trader.