1. NEVER PUNISH - not only do cats not respond positively to punishment, but they associate the fear with you and it degrades trust and your relationship. They also begin to associate the petting with the punishment and you may inadvertently be rewarding negative behavior.
2. IGNORE - immediately pull your had away and leave the room/cat alone.
3. PREVENT - Engaging in Prey Play with your cat daily mimic's his natural hunting behavior and burns off pent up energy. Use a wand/fishing pole toy with feathers or crinkle material on the end. Move the toy in quick jerky motions and make it disappear around corners. Let your cat chase, pounce on it, and most importantly, bite it. The "kill bite" is where the energy is released so don't skip this part. And this is also why laser lights are not preferred; while cats chase them, they don't get the kill bite in, and that can lead to more frustration. Prey play sessions should last about 10-15 minutes. REWARD the kill bite with a high protein snack/treat (canned cat food, tuna fish, sandwich meat.)