H1 B Question

[anynemous 0]

Hi Experts,

I have question related to H1B. Currently I have an approved H1B which is valid until Sept 2020 (including -94), but unfortunately we had a layoff in our company and I am also part of it.

I discussed with my company attorney and she mentioned that, I have two options and those are as follows,

1. As my I-94 is valid till 2020, I can continue to search for new job and transfer my H1 to new employer and I can do this any time before Sept 2020 and up until I can stay in US legally.
2. Move to H4 dependents visa and apply for EAD ( apply together).

Here my question is, can I be on H1 without having a job until I find new job and  file/ transfer my visa to new employer? or should I immediately move to H4 visa?

Please let me know on the same at the earliest.

Thanks.