Can a player use Mystic Reversal to target a spell that was taken by an opponent's Mystic Reversal, and when can they respond?

Ruling: A player can use Mystic Reversal at two different points: either to take control of the opposing Mystic Reversal itself (which would target their own spell and let them make choices for it again), or after the opposing Mystic Reversal resolves to take control back of their original spell.

Sequence:

• Option 1: Respond to opponent's Mystic Reversal by playing your own Mystic Reversal targeting their Mystic Reversal, which targets your own spell and allows you to make choices for it again
• Option 2: After opponent's Mystic Reversal resolves and they declare playing your spell, respond with Mystic Reversal to take control back of that spell

Nuances:

• Both options have equivalent outcomes in this situation
• There may be strategic implications for choosing one option over the other in different scenarios