Option 1: Identify and briefly describe a single component of McCloud's theory of comics. You might, for instance, choose the triangle (see pages 51-57, etc.). Use that theory (or element of a larger theory) in order to investigate Vertigo. Here's what I mean: you should have a single clear argument about Vertigo, which uses/extends/develops/alters some element of McCloud's theory. Example: you might use the concept of synaesthetics (123) to make a claim about how some of the more peculiar lines in Vertigo work, or what they mean (example - the first two images of the February section have odd and interesting lines).
Option 2: I may, or may not, add a second option after class.