a sad day, page-23

wugin
I am short TIM long TIMPB and if TIM goes broke I make about 8% profit on my investment in TIMPB. I had hoped for more but I made an error in ratio of hedge.

Anyway, no big deal. Only issue is that I may have to wait some time before funds are released to me for short profit or I need to negotiate trade at say 0.5 cents if and when TIM in administration.

Depends if and when TIM goes "off the board". The lower the better. If they go off now at 8 cents, I have to wait some time for the 8 cents (to zero) profit to be crystallised. So all ok apart from time value of money at 3% per annum.

in retrospect which is always easy, should have just gone short TIM