Which of the following is true about the Vedic and Puranic traditions?

Both options, 1 and 2

The correct answer is Option 4 - Both options, 1 and 2

Option 1 - The principal deities of the Vedic pantheon, Agni, Indra and Soma, become marginal figures, rarely visible in textual or visual representations in post vedic period.
Option 2 - We can catch a glimpse of Vishnu, Shiva and the goddess in Vedic mantras, these have little in common with the elaborate Puranic mythologies.

Option 3- Vedas reverence as well as authority declined in Post Vedic period is incorrect as in spite of the obvious discrepancies, the Vedas continued to be revered as authoritative in the post vedic period too.

Often associated with the goddess were forms of worship that were classified as Tantric. Tantric practices were widespread in several parts of the subcontinent – they were open to women and men, and practitioners often ignored differences of caste and class within the ritual context. Many of these ideas influenced Shaivism as well as Buddhism, especially in the eastern, northern and southern parts of the subcontinent. All of these somewhat divergent and even disparate beliefs and practices would come to be classified as Hindu over the course of the next millennium. The divergence is perhaps most stark if we compare Vedic and Puranic traditions. The principal deities of the Vedic pantheon, Agni, Indra and Soma, become marginal figures, rarely visible in textual or visual representations. And while we can catch a glimpse of Vishnu, Shiva and the goddess in Vedic mantras, these have little in common with the elaborate Puranic mythologies. However, in spite of these obvious discrepancies, the Vedas continued to be revered as authoritative.