What are possible values of $y$ if $|y| \leq 1$?

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Would it have 2 possible values?

Possibility 1:

y ≤ 1   
y ≤ 1, 0, -1, -2...

Possibility 2:

-y ≤ 1  

To get value of y, I multiply both sides by -1, so sign will reverse, right?

y ≥ -1

So, the possible values of y would be -1, 0 and 1?

Is this correct?

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In essence, you simply need that $$|y|=|-y|$$. Therefore $|y|\le1$ implies $y\le 1$ or $-y\le1 \to y\ge-1$.

So: $$y \ge -1 \text { and } y \le 1 \to -1\le y\le 1$$