You can choose from four types of reflections in the Reflection Type menu:
Causes a plane to reflect moving objects. For example, a floor reflects a character that is walking across it.
Live Planar Reflection on Video option
Causes a plane to reflect moving objects when a video is applied to the camera background. The plane is transparent except for the reflections, so 3D objects appear to be reflected in the video.
You must Apply (not Append) all Reflection shaders that use Live Planar Reflection On Video.
Also, your background color must be black for the effect to be realistic.
Creates a flat map (texture) that causes a 3D object to reflect the contents of its scene from only one point of view, that is, the reflection is frozen and does not change when filmed by a moving camera.
Sphere Map uses Open GL acceleration.
See Texture settings.
Creates a flat map (texture) that causes a 3D object to reflect the contents of its scene. Unlike the Sphere map, it can be viewed omnidirectionally. A camera can move around the object and still show the reflection.
See Texture settings.
