I dont play these 2x -3x plays but FAZ is near all time lows,so if financials take a hit, it could pop. SRS took a huge hit this last 2 months and could move north as well. Because the IV is so high, I would look at selling premium on verticals.
If short term bullish on FAZ, buy the jan 30 put and sell the jan 35 put for 2.65.
If bullish on SRS buy the 50 put and sell the 55 put for 2.85.
If you go out to feb, you give yourself more time for the play to develop and can bring in a little more premium.
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