In AH QQQQs, sept03- strike 44 call and sept18- strike 45 calls were trading at 0.32, and 0.33. A spread would cost 0.01 time premium/one dollar per contract. Expiration of the sept03 calls is this friday. Could you discuss the risks of this trade? The worst case I see is if on this friday, QQQQ goes to 45, and the sept18 implied volty becomes zero (zero volty is not realistic). Would you have taken this trade?