FAZ and such are for day trading and swing trading, and you should explain that. Most people don't understand options, .etc, so they don't understand these don't move exactly 3X, and that if the underlying moves directly sideways these will move down in price relative to the previous price. These aren't all correlated to delta, but gamma also. A lot of times, it would be better to short FAS than to buy FAZ depending on what the $VIX is doing etc. If the $VIX turns around, then yeah, it may be ok to be in FAZ, but currently, it's in a downtrend. It's better to go with the trend than against it, IMO, since you usually can't pick tops and bottoms until after they occur.