If this is your first time I would go with sitting on a water hole as option #1. Spot and stalk is always an option if the location of the antelope is in a position where a stalk could take place. I would suggest you do some pre season scouting on the water holes in the area. If you know the area, then this isn't a big deal. But it happens to many times, someone thinks they have the best water hole, and they find out after two days of no antelope that another water hole was just over the next hill. Blind hunting will be your best chance at a antelope. Just hunt where you know the antelope have been coming in. Just because you find a water hole, doesnt mean the antelope use it. The blind will also hide more of your movement to give you a better chance of taking a shot with a bow.
Setting up your blind requires some thought as well. How far is dependant on your shooting range. I like to set mine up around 25-30 yards away. I know where the sun will come up in the morning as well. I don't want the sun shinning in the blind while trying to shoot. Try to set if off any mark trails coming into the blind. If it rains, go to option #2.
If your hunting in August, trying to decoy in antelope may not be your best bet. I suggest use the terrain to your advantage to get close enough for a shot. The other spot and stock option would be to use a newer product out last year. It's a company called Bethedecoy.com Its a decoy you wear. It looks funny at first, but I used it last year and it worked great. It can also be worn to get to the blind if you show up a little after first light. The antelope see what looks like another antelope going to water from a distance, and that gives them confidence to come in to water as well. Plus you will have the antelope hat in the blind with you, in case you get a spot and stalk opportunity. It's just another tool to have incase option #1 is not producing. ou can only use during a archery only season.
Hope this helps. I remember my first antelope hunt, and it was one of the best hunts of my life.