What would you do if you caught feelings for a friend?

Happened to me several times for few of my female friends.

I'll risk our friendship and initiate something, hopefully to get something more. If I'll get rejected I'll try to keep being the friend
I'll risk our friendship and initiate something, hopefully to get something more. But if I'll get rejected I'll cut the friendship
I'll continue being a friend, and I'll try to move on with the feelings
I can't handle this, and it's too risky. I'll cut off the connection
Other, please explain
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What would you do if you caught feelings for a friend?
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