Subject: File No. S7-24-15
From: Anton Dawson

March 24, 2020

To Whom It May,

I am very disappointed to hear that the SEC attempting to alter the trading qualifications for owning leveraged and inverse ETFs. I have been trading these securities for years. While I understand the agencys reasoning for doing this because of the inherent risk, that risk is clearly communicated to all investors. There is no evidence to suggest that these securities pose more significant risk than any blue chip stock. Indeed, the last 2 weeks has shown us all that no securities are completely and these securities can act as insurance in a highly unpredictable market (which has shown to be the case as these have protected my portfolio in light of the recent market crash). Same as any other form of insurance, I am willing to take the risk of not receiving my money back for the peace of mind provided in case of a major market correction. In my opinion, if this removing these securities is the route the SEC chooses to take, they might as well cancel Stock Options too, which in my 5 years of experience as a trader are much riskier securities, due to the time expiration associated with options. It is for this reason that I started investing leveraged and inverse ETFs, because there is no time limit in which I need to take action to avoid realized losses. ,

In short, I believe it would be terrible mistake to move forward with the SECs proposed changes in regulation on the securities in question. To reiterate, these securities have allow me to make money in a highly volatile market and I plan to continue to use a significant part of my portfolio to protect myself from the downside, which shows little sign of abating. I hope the SEC can appreciate the flexibility such securities give to smaller investors for which hedge funds are not a feasible option. Thank you for your consideration and attention.