I have a license copy of STUDIO 8, old I know, but what are my upgrade options.
There are no upgrade options from Studio 8, at least in the sense of a reduced price for owning a previous version.
You can take out a subscription to the Creative Cloud, which gives you access to all CC programs. Alternatively, you can take out a single program subscription to Dreamweaver. A subscription to the Creative Cloud is much better value if you use more than one program. The price differs from country to country.
what are my upgrade options.
None. Adobe no longer sells the Creative Suite software.
Creative Cloud is a subscription payment model. You download and install Creative Cloud programs on your desktop same as before. The only difference is you receive free upgrades for as long as you remain a subscriber. Upgrades come out about 2-3 times per year.
To help you decide, you can try it free for 7 days.