Subject: File No. S7-24-15

February 21, 2020

Eliminating and/or restricting inverse and/or leveraged funds though well intended, it would be shortsighted on the part of the SEC. I trade some of those funds in a hedged portfolio -- the leverage and the reverse structures are instrumental to my having a balanced, risk-adjusted portfolio. Removing them would impair the portfolio's effectiveness. My strategies while not common aren't unusual so the expectation is the impact would be substantial.