Final answer:
Nick Carraway observes Jay Gatsby standing on his dock, reaching out towards the green light at the end of chapter one in 'The Great Gatsby.'
Step-by-step explanation:
At the end of chapter one of 'The Great Gatsby,' Nick Carraway witnesses his elusive neighbor, Jay Gatsby, standing on his dock stretching his arms towards the green light, which is option 2. The green light, located at the end of Daisy Buchanan's dock, is a significant symbol in the novel. It represents Gatsby's unattainable dreams and his longing for Daisy, encapsulating the themes of unattainable love and the American Dream that F. Scott Fitzgerald explores throughout the work. The observation of Gatsby reaching out towards the light marks the beginning of Nick's fascination and involvement with Gatsby's complex world, setting the tone for the events that follow in the narrative.