Option Agreement for Wholesaling: Yay or Nay

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Hello, I need a word of advice. I am ready to move forward on getting my first property on contract, but I have one concern that is causing a big cloud to hang over my head. My fear is what if a buyer flakes on me on the closing day and leaves me stuck with being obligated to purchase a property that I reassigned to them.

Scenario:

1. Buyer agrees to purchase property and signs the assignment contract. He/she provides all appropriate documents and places a non-refundable Earnest Money fee (which I am told is usually the same amount of money I placed down for the purchasing agreement).

2. On the closing date, the buyer does not show up and I as the wholesaler cannot reach them. Now the seller is looking at me to complete the purchase.

How do I avoid this circumstance?  Do you recommend that I use an option agreement?  Can an option agreement protect me?