This question tests pattern recognition skills. Let's analyze the given series of figures:

Observe that the pattern involves a rotation and a change in the shading of the inner and outer shapes. The inner shape rotates 90 degrees clockwise in each step, while the outer shape rotates 90 degrees counter-clockwise. Simultaneously, the shading pattern alternates between shaded and unshaded areas.

Following this pattern, the next figure should have the inner shape rotated 90 degrees clockwise from the last figure in the series (resulting in a vertical rectangle), and the outer shape rotated 90 degrees counter-clockwise (resulting in a horizontal rectangle). The shading should also switch; if the last figure shows a shaded inner and unshaded outer, then the next should show an unshaded inner and shaded outer.

Among the given options, only option 3 correctly displays this combination of rotation and shading:

Therefore, option 3 is the correct answer.