Is The Dalai Obama out of options? I'd say no, but since, "War Is Not The Answer", I fully expect the administration (and the UN) to back down.
The real answer here is not UN sanctions. It's the Chinese. North Korea has been China's proxy for over 60 years. I believe the Chinese, while not directly behind this are giving NK tacit permission. Unfortunately, China owns so much US debt that the US has little leverage.
I expect the result of this to be a nuclear armed North Korea, no sanctions (or sanctions with no teeth).
I'd love to be wrong.