The problem with playing for rising iv's currently is: we are coming off an historic volatility jump that persisted through Q2 and iv's are still quite elevated, comparatively. To make money on the spreads, I am looking for AAL to move closer to one or the other strike and I am also looking for the back week options iv's to come up along with the front week's.
Another way to profit potentially is to hold thru to the back week. If the front week's options expire worthless, I'd be left with a strangle at $11.50 and $23.00
"If The Fool persists in his Folly he will become wise." - William Blake