I'm pretty Ole out and have been for the best part of a year, yet there's one thing he could to to make me inclined to give him till the end of the season: switch out his coaching staff. Carrick and McKenna are amateurs, Phelan is a dinosaur and already was under SAF. I only fear that won't happen, as it would require balls, which I have seen no indication of so far in regards to Ole.
Honestly, every manager post SAF gets loaded with these Fergie-guys with no pedigree whatsoever except they "get the club" or some shite like that. Moyes and Van Gaal got Giggsy, Jose got Carrick and now Ole, one of the aforementioned Fergie-guys himself, gets three others that are as clueless as him. How is that supposed to work?
Get some top guys from far outside the club to bring in fresh impulses, instead of trying to bring back the Fergie times, they're gone and won't come back, regardless of how many ex-players you try to squeeze into coaching roles.
That would make me give him more time, as it would show that he really tries something different, not only talk about it.