Subject: File No. S7-24-15
From: John Schloop

March 10, 2020

Dear Sirs:
I do not use 3x leveraged funds as long term investments but rather as a way to both protect the value of my investments during periods of high volatility and to take advantage of it.
The Direxion funds that I use are used as a hedge against the market swings in the securities I own.
Please do not interfere with my ability to use these funds as they are a substitute for options which I have not yet used and am comfortable with the risk reward with leveraged and inverse funds.
Thank You,
John Schloop