Subject: N/A
From: Ben Kniola

Mar. 17, 2020

Comment on SEC Proposed Rule #S7-24-15: 

To whom it may concern: 

I use leveraged ETFs and they have been a meaningful source of return in my portfolio. 

Options investing presents more risk than leveraged ETFs since these ETFs are a way for investors to access the derivatives market without worrying about time decay, option expiration, and margin calls. 

I understand leveraged ETFs are exotic and can lead to severe losses but that should require increased disclosures, warnings, and transparency. 

We allow people to smoke which creates a public health burden but that burden is mitigated through education, taxes, and warning labels - not a background check or qualification process. 

Please seek out less burdensome regulations that accomplish your organization's objectives without disrupting the people that rely on leveraged ETFs for enhanced returns and downside protection. 

Thank you. 

Ben Kniola