Subject: File No. S7-24-15
From: Christopher Smith

February 22, 2020

Leveraged and inverse are important to me. They allow me to use a hedge against market corrections with less risk.

I understand how leveraged and inverse funds work, including the issue of contago.

I do not want a regulatory authority to limit my choices to optimize and protect my portfolio.

I am a firm believer in free markets.

I do not want the government to control more of my financial choices.