FEB/MAR goog dbl calendar (-18%loss)

bot +1 dbl calendar FEB/MAR08 640/720
640 put calendar @ 7.40
720 call calendar @ 9.20
total debit: 16.60 (mark 681.20)
screenshot to the left is P/L as of 1/03 today
screenshot above is P/L on 2/1/08 with everything the same.

Plan is to take off trade b/f GOOG earnings on 1/31/08
will not take more than a 20% loss on margin or 3.30
Very wide B/E points for FEB expiration, good support at 650 and then at 625 for the downside and 725 and 750 (all time high) for the upside.
Risk is more apparent to the downside, so will keep an eye on that. Also will be interesting to see how IV affects this trade as we get closer to earnings. The trade has positive vega and positive theta so theoritically should work ideally for a 1 month holding time and expected IV increase. I do understand that the IV will increase the most in front month FEB options which are my shorts (not good) hope to see IV increase proportionately for MAR as well or this trade could get ugly..we will see.

1/09/08
Hit my adjustment point yesterday and remained weak this morning before the prices reversed and shot back up late in the day...wild day!
I executed this adjustment b/f noon and rolled my 720 Call Calendar down to a 650 Put calendar:
sold FEB/MAR 720 CALL calendar @ 8.10
bot FEB/MAR 650 PUT calendar @ 9.00
adding .90 debit to my original trade
16.60 + .90 = 17.50 debit for double PUT calendar trade (new P/L graph looks like a volcano)

1/17/08
closed out of trade for a loss:
sold double calendar for 14.35
creating a total loss of 3.15 (18% loss)($315)