How Does a Permanent Magnet Work, I

How does a permanent magnet work, i.e., what is the explanation of its magnetic effects?

A) Subatomic particles known as "magnetic poles" are placed on each end of the magnet, with one type of pole placed on one end and the other type on the other end.
B) Magnets are a communist plot.
C) Electrons orbiting individual atoms in the magnet are all aligned together so that their orbital motion produces a large overall effect.
D) The material of the magnet is highly ionized, with one type of ion residing on one end of the magnet and the other type of ion residing on the other end.
E) Electric charge is permanently separated within the magnet, with positive static charge at one end and negative static charge at the other end of the magnet.