There are both pros and cons for both but I want to hear your opinions..
Don't study. Best option.
Depends on how tired you are before bed. I would say study late sleep late because (for me at least) when I wake up my brain is still waking up. It would be much easier to retain information before I go to bed than when I wake up early. Though if you need to cram study sometimes the morning is better since then you will probably remember it if you have a test or whatever in the coming hours. It depends on if you are a morning or evening type of person