Analysis > Static Analysis performs the static analysis of the model.
You should set the appropriate analysis options before running this command. To do that, just click Analyze > Analysis Options.
For models with P-Delta load cases, it is recommended to first run them without a P-Delta analysis just to verify that the model is stable. Remember that P-Delta analysis is specified on a load combination by load combination basis. This can be set on the Load Combinations dialog by clicking Create > Load Combinations.