If the two ends of a p-n junction are joined by a wire:

The correct answer is Option (3) → there will not be a steady current in the circuit

When two sides are connected, the electrons from the n-side will move to p-side, where they will combine with holes. This process create a depletion region at the junction, where no free charge carries is available.

Thus, without any external voltage, there will be no steady current in the circuit.