I am a financial professional. I used to work for market dealer and I was not allowed to trade options. Leveraged ETFs gave me the opportunity to get some leverage and get a piece of the returns reserved only for big players like Hedge funds and Investment banks. I started trading options after I left the broker dealer. I was fully educated and knowledgeable of how to manage risk. Good market returns should be available to all retail investors. They should not be reserved to Hedge funds and other market dealers. Not all of us are paid big money at work or will ever become managing director and etc. Trading options and leveraged ETFs gives the little retail investors ways to supplement their income and in on occasion reach the American dream. Instead of taking away the opportunity of the retail investors to trade leveraged ETFs and options focus on the things that matter. Regulate Hedge Funds and market dealers. Regulate their leverage. Don't let them full you with derivative structures that end up with huge leverages and tax evasion. The retail investor at least pays taxes! Focus on educating the retail investors. Enforce the following requirements: For option accounts make it mandatory to have: 1. At least a year of Level 1 trading experience, or financial industry experience. 2. If they don't have finance and accounting background, make them pass some kind of a test. For example, at a broker dealer you have to pass Series 7&63. Do something similar for new entrants to option trading. In summary, do not take away from the retail investors the returns reserved only for big players. Focus on education! Introductory Leve1 option trading account with a number of trades in a year.
Anonymous Comment On Regulatory Notice 22-08
I am a financial professional. I used to work for market dealer and I was not allowed to trade options. Leveraged ETFs gave me the opportunity to get some leverage and get a piece of the returns reserved only for big players like Hedge funds and Investment banks. I started trading options after I left the broker dealer. I was fully educated and knowledgeable of how to manage risk. Good market returns should be available to all retail investors. They should not be reserved to Hedge funds and other market dealers. Not all of us are paid big money at work or will ever become managing director and etc. Trading options and leveraged ETFs gives the little retail investors ways to supplement their income and in on occasion reach the American dream. Instead of taking away the opportunity of the retail investors to trade leveraged ETFs and options focus on the things that matter. Regulate Hedge Funds and market dealers. Regulate their leverage. Don't let them full you with derivative structures that end up with huge leverages and tax evasion. The retail investor at least pays taxes! Focus on educating the retail investors. Enforce the following requirements: For option accounts make it mandatory to have: 1. At least a year of Level 1 trading experience, or financial industry experience. 2. If they don't have finance and accounting background, make them pass some kind of a test. For example, at a broker dealer you have to pass Series 7&63. Do something similar for new entrants to option trading. In summary, do not take away from the retail investors the returns reserved only for big players. Focus on education! Introductory Leve1 option trading account with a number of trades in a year.