Apply the same rearrangement pattern:
PLAYING : GNIYALP :: READING : ?

The correct option is GNIDAER.

Let's analyze the rearrangement pattern applied to the first word, PLAYING:

The word PLAYING consists of 7 letters:
P - L - A - Y - I - N - G

When reversed from right to left (last letter to first letter), it becomes:
G - N - I - Y - A - L - P, which forms the word GNIYALP.

Thus, the pattern is simply writing the letters of the original word in reverse order.

Now, applying the exact same pattern to the word READING:

The word READING consists of 7 letters:
R - E - A - D - I - N - G

Reversing the letters from right to left gives:
G - N - I - D - A - E - R

Therefore, READING becomes GNIDAER.