I have a few hybrids - mostly based on risk-reward ratio.MXUPA -...

I have a few hybrids - mostly based on risk-reward ratio.

MXUPA - backed by strong company and last 4 dividends are cumulative
BEPPA - bit riskier but cumulative
WFLPA - safe but very illiqued
TIMPB - good return but downside risk
GNSPA - good return for relatively low risk

Having said that I should add that all are currently in the red but not worried too much as will be holding to conversion.

WRT respect to shorting TIM, I had a look at doing this but CFD provider charged so much interest on purchase price that it would more than wipe out dividends and I also think chance that TIM will rise. Cost was too high for return, but may be OK with a standard put option if I knew more about them.