Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I am an individual investor and I encourage you to approve the staff’s proposal on position limits. However, I would ask you to reconsider the proposed formula for silver. The current formula would result in a position limit of over 5,000 contracts for any single speculator, on an all-months-combined basis. This is too high of a threshold in light of the realities of the world silver market. It is widely accepted by many that the silver market is manipulated to an extreme degree. I concur with this view--I know you've heard the arguments. I'm sure many have written to you explaining why this limit still allows manipulation of the silver market. Please institute a 1000 contract position limit for silver.
Terry Weinman
