I don't get over to Grandma's to participate as often as I'd like, but when I do, I like to use Option 2: 140 characters, including spaces and punctuation.
If I can, I like one of the words to be the word of the week. I think I've got it, by George, I think I've got it. 134 characters, including spaces, punctuation and "theory"!
What??? I fell asleep in my owner's chair and when I woke up I was holding a guitar, and people were telling me to learn Music Theory.