Theology: What does Psalm 110:5 mean?

"The Lord is at your right hand; he will crush kings on the day of his wrath." Psalm 110:5 (TNIV)

I've seen three interpretations of this verse:
(1) The Lord God is at Messiah's right hand; God will crush kings on the day of his wrath.
(2) Lord God, at your right hand is Messiah who will crush kings on the day of his wrath.
(3) Messiah is at God's right hand; Messiah will crush kings on the day of his wrath.

For the kings who get crushed on the day of wrath, it doesn't really matter which of the three is the correct interpretation!

Nonetheless, which interpretation is most likely to be correct and why?

Are there some other interpretive options to consider?

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