@Chip-Valecek Thanks for the feedback! The only thing that gives me pause with #1 is that it seems like the "obvious" perspective, or something. Not as visually interesting. I like your reasoning for 5, as it can still focus on the danger of the wolf. I hadn't thought of doing two of them as a spread...that's definitely something to consider! It would also show I can do sequential art, which might not be a bad idea if this is a portfolio piece.
EDIT: The more I think about it, I like your reasoning for 5...it could give me a chance to play with emotion and facial expression on Red (for example, is she uneasy, like she knows something's not right? Is she blissfully unaware that she's being followed?), which would add an element of storytelling.