Step 1: Recall the definition of probability.
The probability of an event \(E\), denoted as \(P(E)\), satisfies the condition:
\[
0 \leq P(E) \leq 1.
\]
This means that the probability of any event is always between 0 and 1, inclusive.
Step 2: Analyze the options.
Option (1) is incorrect because probability cannot be negative.
Option (2) is correct because \(P(E)\) is always between 0 and 1.
Option (3) is incorrect because probability values cannot be greater than 1.
Option (4) is incorrect because there are events with zero probability, meaning they cannot occur.
Step 3: Conclude the correct answer.
Thus, the correct answer is Option (2): Probability of an event is always between 0 and 1.