I have been successfully investing in leveraged ETFs for over 10 years now. I currently hold a significant position in TQQQ with unrealized capital gains that I can't afford to pay taxes on until after I retire. I need the liquidity of of an active options market on this leveraged ETF to be able to sell options against my position in times of excess volatility. I cannot afford to change my investment strategy at this stage of my life. I find leveraged ETFs to be much safer and more cost efficient than constantly trying to make leverage positions in the options market. For one, long-term investments are impossible with options. I understand that leverage ETFs are designed for short-term investments, but they have proven to be effective long-term investments as well for those who are risk tolerant. Do not deny me the liberty to access highly liquid leveraged ETFs. Barriers to entry will make them less liquid.
Steven Dwyer Comment On Regulatory Notice 22-08
I have been successfully investing in leveraged ETFs for over 10 years now. I currently hold a significant position in TQQQ with unrealized capital gains that I can't afford to pay taxes on until after I retire. I need the liquidity of of an active options market on this leveraged ETF to be able to sell options against my position in times of excess volatility. I cannot afford to change my investment strategy at this stage of my life. I find leveraged ETFs to be much safer and more cost efficient than constantly trying to make leverage positions in the options market. For one, long-term investments are impossible with options. I understand that leverage ETFs are designed for short-term investments, but they have proven to be effective long-term investments as well for those who are risk tolerant. Do not deny me the liberty to access highly liquid leveraged ETFs. Barriers to entry will make them less liquid.