The correct answer is option 4, which is 120. To understand why, we need to consider the number of possible permutations of the letters in the word COVID.

The word COVID has 5 letters. To find the number of permutations, we can use the formula for permutation, which is n! / (n-r)!, where n is the total number of objects and r is the number of objects taken at a time.

In this case, n is 5 (the number of letters in COVID) and r is also 5 (taking all the letters at a time). So the calculation would be 5! / (5-5)! = 5! / 0! = 5! / 1 = 5 x 4 x 3 x 2 x 1 = 120.

Therefore, there are 120 different words that can be formed using the letters of the word COVID. It`s important to note that these words can be both meaningful and meaningless as there are no restrictions on the arrangement or combination of the letters.