Sneaky Falcon Enterprises, LLC has purchased 27 shares of the Credit Suisse VelocityShares Daily Inverse VIX Short Term ETN (Ticker NASDAQ:XIV).
The 27 shares were bought at a price of $73.64, for a total cost basis of $1,995.35 (with commission).
While the original recommendation was actually to invest in some instrument that mimics the VIX directly, after a heated discussion we opted to not buck the bull market. Therefore, we bet against the VIX, using the VelocityShares Inverse VIX ETN.
Although the group agreed that there are plenty of potential catalysts for high volatility looming, nothing appeared imminent. As we continue to think through our longer term strategies and re-evaluate the post-Trump world, we opted to park some money in XIV and hopefully capture the market stability.
Check out all of Sneaky Falcon’s current and past holdings on our portfolio page!