If cleared for a straight-in LOC approach from over OALDY, what should the flight do?

When cleared for a straight-in LOC (Localizer) approach from over OALDY, the flight should proceed directly to the final approach without making a procedure turn.

In a straight-in approach, the aircraft is authorized to fly directly to the final approach course and begin descent as specified in the approach plate. Unlike other types of approaches that may require a procedure turn to align with the final approach course, a straight-in approach allows the pilot to descend and navigate to the runway without additional maneuvering. This is particularly efficient and is commonly used when weather conditions and airspace allow for straight-in operations.

The other options imply actions that are not required in this case. For example, making a procedure turn would unnecessarily complicate the approach and is not permitted when the approach is described as a straight-in. Similarly, circling or holding at the waypoint would delay the landing process, which is not conducive to the intent of a straight-in approach clearance.