Funny you should ask. I started nibbling on both yesterday. 108 Mar Calls on SPY and Jan 2011 10 calls on C. Looking to add to the SPY position on any pullback.
wow you buy a lot of time on your option contracts, I generally buy options with a theta of .90 and take advantage of the short term fluctuations of the stock with added leverage. Make money and dump it. I usually trade with a time frame of 1 month.