Long VXX in Early August to Cover Long Deltas

Market conditions were indicating a potential drop in the market. ModernCents portfolio managers placed this small VXX position to help offset some of the long deltas in the portfolio. The combination of closing the Put Vertical Spreads inside the Iron Condors and the purchase of this VXX position were the only measures taken to help offset the large positive delta the dividend portfolio had at the end of July going into August 2015.