READ COMMITTED prevents dirty reads by only reading committed data. However, it does not guarantee repeatable reads or prevent phantom reads.
Under REPEATABLE READ, a transaction sees a consistent snapshot of data as of the start of the transaction, so new rows inserted by others are not visible until commit.
To set the isolation level for the current session, use SET SESSION TRANSACTION ISOLATION LEVEL SERIALIZABLE;. Option A sets it for the next transaction only, C sets globally, and D is invalid syntax.
REPEATABLE READ is MySQL's default and balances consistency with performance by preventing dirty and non-repeatable reads without the heavy locking of SERIALIZABLE.
Phantom reads can still occur if the storage engine (like MyISAM) does not support gap locking, even under SERIALIZABLE isolation. InnoDB supports gap locking which prevents phantoms.