Isn't FAZ the leveraged ETF on the financials on the bearish side? So how are you bullish yet you're buying calls on an investment that will only go up as the holdings go down? FAS is the opposite on that one.....I had them both in 2009 before the splits on them both to calm the swings. And the banks are not going up anytime soon from all indications...new regulations, crap still on the books.....etc.