I'd do it differently
1 You have put a fullstop at the end of the ellipsis, but is it really the end of the sentence? 'said the reader' strikes me as part of the same sentence.
2 This is heading for the end of the sentence, so many would use 4 (ellipsis + fullstop)
Check here: http://www.grammarbook.com/punctuation/ellipse.asp