The amplitude of the complex number \( z = x + iy \) is given by \( |z| = \sqrt{x^2 + y^2} \), and the amplitude is always equal to \( \theta \). Therefore, we have:
\[
|z| = \sqrt{x^2 + y^2} = \tan \theta
\]
Squaring both sides:
\[
x^2 + y^2 = \tan^2 \theta
\]
Thus, the locus of the point is given by \( x^2 + y^2 = \tan^2 \theta \).
Therefore, the correct answer is \( x^2 + y^2 = \tan^2 \theta \).