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.
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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.