A century, Charlie and Charley were both common spellings for boys' given names, though Charlie was more popular. (Charlie was ranked about #22 in the 1880s whereas Charley was ranked around #69 for the decade. Both names then fell in popularity before picking up again in the 1990s. and then fell.
When used for girls, Charlie was also the choice, peaking at about #518 in the 1920s. Charlie is still used more for girls: it came back on the charts in 2005 and is now at #616; Charlee came on the charts for girls in 2006 and is now at #726; Charley came on the charts last year at #949.
Personally, I'd stick with Charlie for a boy because it's the more common choice. As a given name, Charlie is now #274 for boys, while Charley isn't in the top 1000 names for boys. (Of course, Charles is much popular, at #64).
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