iBond - The Next Big Batalyst for Apple?

Speaking to Benzinga during Tuesday's #PreMarket Prep morning show, Recon Capital Chief Investment Officer Kevin Kelly commented on

move to raise capital in the oversees bond market. Kelly noted that Apple's dividend is "low" given the fact that the company holds about $30 in cash per share. He added that Apple's decision to seek financing in the International debt market serves as a sign that a major catalyst in the form of a dividend or additional buybacks is imminent. As such, Kelly added that "the low is in right now" – referring to the $120 to $124 per share level. Kelly suggested that a strategy investors could consider is turning shares of Apple in to an "iBond" by selling a $120 put and collecting a premium. The guest speaker suggested that shares of Apple could climb to new all-time highs as Apple starts to put its capital "to work."