Subject: File No. S7-24-15
From: David Elias

February 19, 2020

I successfully used inverse ETF funds on more than one occasion, but more importantly they saved me during a time of extreme volatility.
Specifically, I had a holding in a large financial that very nearly went bankrupt and to this day has never fully recovered in share price. I used an Inverse ETF to hedge this position and it literally saved me 1 million dollars in losses.
I am married to a pharmacist that works for a hospital often dealing with cancer patients. After a very moving news story about opioids and abuse I asked her, Why dont they just outlaw those things? Her response is pertinent to this discussion. She said, if you were dying of cancer and in tremendous pain this might be the only thing we could give you that would ease the pain. They cant quit making it. Its not the drug, its the improper use of the drug.

This same thing applies to financial products. Like the drug mentioned, they all serve a purpose. It is when they arent used for their intended purpose that problems occur. I urge you to reconsider this proposal.