There was little question of that as Loki backed away from the window, no doubt wondering if he should run. The Fire Giant might be clever, but overly brave he was not. And if he anticipated things to go much as Odin did, he was right to plan an escape route. The Valfather had not missed the fact that there was a door on each side of the shack for ease of slipping out.
The trick was going to be to convince Loki he meant him no harm before he decided to use one of those doors. And he had to come up with something quickly. Simply saying so would not be enough; Loki was well aware as any that Odin's word was not always to be trusted. Then, in a flash of insight, he found what he hoped were the perfect words.
"Peace, Son of Laufey. I come only to talk."
Odin could not remember ever actually calling Loki by that name. Laufey was as sacred to the Trickster as his own wife and sons, as Odin well knew. Even he would never use such a name in a deceptive manner. It would break too many moral codes even for him.