Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. 5000 contracts is way too much and is greater than what 99% of producers or consumers use or sell in a year. This makes little sense and only can lead to unwarranted pricing power for the holders of so many contracts.
A much more reasonable limit would be to institute a 1500 contract (7.5 million ounce) position limit for silver.
Respectfully,
Dr. Ian Straughn
