Huntsman is going to keep portraying himself as a sane, experienced alternative to the frontrunners, staying in the race later than one normally would with his poll numbers; he'll try to maximize his name recognition and favoribility ratings.
Then he has multiple options to choose from:
- If Obama's reelection looks unlikely, endorse the GOP nominee, speak at the convention, and try to get appointed SoS (or, worst case scenario, get his ambassador job back)
- if Obama's reelection looks uncertain, unenthusiastically endorse GOP nominee; if Obama wins then he can position himself as a 2016 frontrunner and push the narrative early that the Republican candidate lost because of their extremism. If Obama loses, push strongly for a cabinet position and get old ambassador job as a consolation prize.
- if Obama's reelection looks likely, endorse Obama and hold a big speech with him to make headlines. Probably get appointed SoS, or worst case scenario at least get ambassador job back.