Bear Call Spread for Jan 07

I have entered a Bear Call spread for ticker symbol ONXX for the expiry month of January 07
Sell Jan 22.50 call at $1.05
Buy Jan 25.00 call at $0.35
Net credit $0.70

Net return for the month -16.28%

ONXX-Onyx Pharmaceuticals, Inc. operates as a biopharmaceutical company in the United States.

Technicals: From the beginning of the year, the stock began to breakdown; this resulted in a multi-month decline to lower prices and a 52-week low of $12.70. After the new low prices did manage to break back above the 30-dma trending all the way back up to close a gap that occurred during the month of June. Now, that the gap has been closed the stock has reversed direction falling below the support area of the 30-dma and the rising trendline. The stock trades in the health care/biotechnology & drugs industry which has been trending sideways over the last two months and there hasn’t been any institutional interest in a long while. Both the MACD’s and the Stochastics are signaling selling pressure.