Which one of the following is a defensive strategy?

None.

What are the following?

To determine which one of the following options is a defensive strategy, you need to understand what is meant by a defensive strategy.

A defensive strategy is a strategy that focuses on protecting existing positions and minimizing potential losses rather than aggressively seeking new opportunities. It aims to create a strong defense against threats and risks, rather than taking overtly risky actions.

Now, please provide me with the list of options so that I can help you identify the defensive strategy among them.