Feb. 7, 2024
Hello, I am writing in regards to the proposed rule change SR-OCC-2024-001 34-99393 by the Options Clearing Corporation to change margin requirements during periods of high volatility. If the corporation member takes on too much risk, that member should suffer the consequences of that risk exposure, including being margin-called, during periods of unusual volatility just like any other investor would be margin-called. "Rules for thee and not for me" is morally reprehensible and erodes the public trust in fair markets, something the SEC should stand for and enforce. With more lax margin requirements, there is nothing preventing these big players from shorting companies to infinity and eventual bankruptcy. During periods of high volatility, the companies that run our country are especially vulnerable, and the last thing we should want is for big investors to drive them into the ground due to lenient margin requirements. I am a 51-year-old shareholder of one of those highly shorted companies, and have seen my life savings dwindle to almost nothing over the last few years due to perpetual shorting by these large institutions. This rule change will only encourage and perpetuate this type of aggressive behavior that benefits only the largest firms at the expense of everyone else. Margin requirements should be MORE strict, and fully enforced, for big investors who take on larger risks, thereby making them think twice before taking on those risks in the first place. Otherwise, these big investors become "too big to fail" and the retail investor will choose to move their money into places they can trust. I will be the first one to take that step if this rule change is approved. It's time for the SEC to stop protecting the big guys, let the consequences of risky actions play out, return to personal and corporate responsibility and integrity, and build back trust with the general public. Thank you for not approving this rule change. Ryan B. Los Angeles, CA