On LEHMQ you can only sell closing positions, hence there is not much competition on certain ask prices to sell. Question: If a person had bought (i.e. before the bankrupcy) the 20 calls for LEHMQ with Jan 2010 expiration, and sold the 25 calls, currently: the 20 calls are selling for 1 cent, and the 25 calls (because there is no competition on the selling end) are selling at $2.00! (The 35's are selling at $5!). Will this not cause some broker valuations to go bonkers and cause people margin calls or intraday liquidations?