Subject: File No. S7-19-07
From: Nan v krish

August 12, 2008

SEC let us methodically analyse steps involved if one wants to participate in the market.
- you study the SEC rules and regulations
- based on the rules and regulations you devise strategies to come out a winner and you participate in the market
- If you made money the strategy worked and you continue with that strategy. If you lost you cut loss and work on a different strategy and try again.
But the options market makers and options exchanges contention is "SEC we have already devised delta neutral strategies,( i.e.sell stocks short(naked short sells)and write put options) so please accomodate us because we don't want to loose. CHANGE YOUR RULES TO ACCOMODATE OUR DELTA NEUTRAL STRATEGIES WITH OPTIONS MARKET MAKER EXEMPTION". Now how is that fair?
Please eliminate the options market maker exemption. Once the exemption is eliminated do you think Options marketmakers will not participate in the market? Let us not even doubt that because there is too much money to be made. Options marketmakers will devise new strategies based on your new rules which is how it should be and then it is a level ground for all market participants.