Pass or Fail Option(Especially to Ad Comm)

[Hanyuye]

Hi all,

I am in the midst of my Probability Theory course and I bombed my first midterm, as well as 75% of the class. There is too much material to learn for the midterms (4-5 chapters per midterm) and with 1.25 hours per midterm, there isn't enough time to jot everything down. Seems like the whole class is complaining but no one actually confronts the professor about it.

Question is, if I drop this course(W on my transcript) and take it again in the summer, how bad will it be to my future grad applications?

What if I opt for Pass/Fail option? Is that a bad sign?