Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I would like to weigh in during the period of public comment, and urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. I would ask you to reconsider the proposed formula in silver. The current formula would result in a position limit of over 5,000 contracts for any single speculator, which in my view, is too high of a limit for the silver market.
I support a 1500 contract (7.5 million ounce) position limit for silver.
Regards,
Brad Saviello
