That third option would not have gotten Japan to the surrender table on August 15, 1945, if ever. A blockade also meant keeping millions of conscripts in uniform for years waiting for Japanese capitulation. Note that Truk was a postage stamp sized installation with no fresh water other than from rain fall. The Japanese home islands have been continuously cultivated for thousands of years. Meanwhile, on the Asian mainland, Allied troops, POW and civilian slave laborers were dying every day that a Japanese surrender was not forthcoming.
“That third option would not have gotten Japan to the surrender table on August 15, 1945, if ever”
True, it would have taken longer. No question there. How long, I think is the interesting question? Can you run a modern society with no oil? LeMay took out the refineries in May, and Japan had no way to get more, let alone use what they possessed. I do not believe they would have made it through the winter.