What does this flashing red signal indicate?

• You must yield the right-of-way to the oncoming vehicle.
• You must come to a complete stop and wait until further instructions.
• You can go straight or make a right turn.
• You must come to a complete stop and only proceed when it is safe.
  Explanation:

  "You must come to a complete stop at a flashing red light. Move through the intersection only when it is safe."