Which nominal analysis is available for ʿalā katifihi sayfun?

Wāw with Nominal Circumstantial Clauses: Omission, Inclusion and Disputed Cases

• Sayfun a fronted subject and ʿalā katifihi a postponed predicate
• ʿAlā katifihi a single accusative ḥāl and sayfun an object
• ʿAlā katifihi the subject and sayfun an adjective
• Preposed predicate ʿalā katifihi; postponed subject sayfun