Final answer:
The magnetic quantum number, m, is crucial for specifying the orientation of an atomic orbital around the nucleus, corresponding to the different spatial orientations an orbital can have in three-dimensional space.
Therefore, the correct answer is: option "it indicates the orientation of the orbital".
Step-by-step explanation:
A magnetic quantum number is quantum number used to distinguish quantum states of an electron or other particle according to its angular momentum along a given axis in space. The orbital magnetic quantum number distinguishes the orbitals available within a given subshell of an atom.
It specifies the z-component of the angular momentum for a given orbital and is associated with the angular momentum quantum number l.
For a specific l, m can have values between -l and +l, including zero. Each of these values corresponds to a specific orientation of the orbital in three-dimensional space.
For example, if l = 1, which defines a p-orbital, then m can be -1, 0, or +1, indicating the three possible orientations of the p-orbital.