Bank of America, BAC's Kiss of Death

BAC has announced it will impose a $5 monthly fee on debit cards. We cannot envision this fee lasting for very long as the backlash will be horrendous for the bank, a la Netflix.

It is truly a sign of desperation and that the bank must be severely cash-strapped. If my bank did that, I'd switch banks right away.

It's not like people have much love for banks these days anyway. What were they thinking?

There is nothing to like on BAC's chart:

Below are straddles for BAC and XLF, computed with the wonderful StraddlesCalc.

Not advice! Options are dangerous and may cause 100% loss. Please do your own due diligence.