Concept:Pin diagram of 555 timer IC

Pin 1 - Ground
This pin is connected to the ground of the circuit
Pin 2 - Trigger
The trigger pin is used to feed the trigger input to the 555 IC is set up as a monostable multivibrator. This pin is an inverting input of a comparator and is responsible for the transition of flip-flops from set to reset. The output of the timer depends on the amplitude of the external trigger pulse applied to this pin.
Pin 3 - Output
The output of the timer is present at pin 3. load can be connected at the output.
Pin 4 - Reset pin
Whenever the timer IC is to be reset, a negative pulse (low voltage) is applied to reset the pin, the output is reset (Zero) irrespective of the input condition. (Option 1 is correct).
Pin 5 - Control voltage
This pin provides access to the internal voltage divider (2/3 Vcc by default) By applying a voltage to this pin the timing characteristics can be changed.
Pin 6 - Threshold
when the voltage at this pin is greater than the voltage at CONTROL (2⁄3 VCC except when CONTROL is driven by an external signal), then the OUTPUT high state timing interval ends, causing the OUTPUT to go to the low state.
Pin 7 - Discharge
This pin can be used to discharge the capacitor between intervals, in phase with the output.
Pin 8 - Vcc
The positive supply voltage is usually between 3 and 15 depending on the variation.