FEB amzn ratio b-spread for E. (-loss)

1/30/08
bot +1 2/3 backratio AMZN FEB 85/75 @-6.31 (mark 74.20)

1/31/08
sold -1 2/3 backratio AMZN FEB 85/75 @-11.09 (mark 74.51)
Total loss is 4.78
Worst case scenario and the total loss was WAY MORE than I expected. Very interesting and a very good reason to paper trade your curiosities. The P/L graph looked to good to be true when I put the trade on: not loosing much at all if stock stayed relatively still and making alot if stock gapped!
The big key element was the VOLS
original vols b/f earnings: average 92% for the options used
after earnings: 54%
Crush in Vols = -38%
With the +VEGA so high on this trade, the trade got killed!