Neil, I topped up my TIMPB at 1.36. This has reduced my short...

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    Neil, I topped up my TIMPB at 1.36. This has reduced my short hedge ratio on TIM to 68% of my long on TIMPB. Payout is positive all the way down to TIM=16 cents and unlimited on the upside. I may short more TIM if and when TIM rallies to higher levels but am happy with my position now given TIM falling below 50 cents is unlikely.
 
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