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I am due to apply for naturalization in July,,,however I am not sure when I can apply for my dependants please help..

Current status

Main Applicant = ILR …..(Date of entering UK 01-Jul-2005) ..Will apply for naturalization on 2nd July 2010
Dependant Partner= ILR (Date of entering UK 01-oct-2006)
Dependant Child (born outside UK) = ILR (enter UK as dependant 01-oct-2006)

What is the best route for myself and dependants..

1,I can apply for naturalization alone only First and than straightaway for child ? but for wife we have to wait until she completed 5 year?
2.apply for naturalization alone and than apply for naturalization of dependants on 3 years criteria ?
3. both above options are not valid ?any other option

Both options are valid, but option 1 is in my opinion 'pointless' because once you have citizenship your wife can then apply using the 3year option.
I believe your child can apply with you and should be granted if you are granted.