Concept:
All the given ions are isoelectronic.
\[\begin{aligned}
O^{2-},\; F^{-},\; Na^{+},\; Mg^{2+}
\end{aligned}\]
each contains
\[\begin{aligned}
10 \text{ electrons}
\end{aligned}\]
For an isoelectronic series, ionic radius decreases as nuclear charge increases.
Step 1: Determine the nuclear charges.
\[
\begin{aligned}
O^{2-} &: \quad Z=8,\qquad \text{Electrons}=10 \\
F^{-} &: \quad Z=9,\qquad \text{Electrons}=10 \\
Na^{+} &: \quad Z=11,\qquad \text{Electrons}=10 \\
Mg^{2+} &: \quad Z=12,\qquad \text{Electrons}=10
\end{aligned}
\]
Step 2: Apply the isoelectronic rule.
Higher nuclear charge pulls electrons more strongly.
Therefore,
\[\begin{aligned}
O^{2-}
\gt
F^{-}
\gt
Na^{+}
\gt
Mg^{2+}
\end{aligned}\]
Step 3: Identify highest and lowest ionic radii.
\[\begin{aligned}
\text{Highest radius} &= O^{2-}
\\
\text{Lowest radius} &= Mg^{2+}
\end{aligned}\]
\[\begin{aligned}
\boxed{
O^{2-},\;
Mg^{2+}
}
\end{aligned}\]
Hence, option \(\mathbf{(A)}\) is correct.