If you want to be found in the "pages from Italy" serps, your best approach is option 4. - a local ccTLD. I'd still push for a mini-site, even if it is a very small mini-site. A couple of pages just allows you this extra flexibility when it comes to choosing which keywords to target, which content to display, etc.

If you are completely not bothered about the "pages from country" serps (and only want to be found in "web" and "pages in language" serps), then serving the content under a subdirectory of your main domain isn't a bad choice either. Both methods have advantages and disadvantages. Obviously using your main .com domain you sacrifice somewhat on the localisation but the .com has the benefit of being an established, old domain which already ranks well.
You just have to make it crystal clear to the search engines what language you are serving the content in - so good use of language tags and ensuring the page is fully served in the local language.