5 ways to trade financials as stress results loom

Stick with financial names that have performed well recently as Federal Reserve stress test results surface, advised CNBC "Fast Money" trader Steve Grasso.

The annual tests—results of which will start to be released Thursday—assess how well banks can resist a market shock. Investors eyeing financials should look at Citigroup, JPMorgan Chase and Goldman Sachs, all of which have jumped more than 8 percent in the last month, Grasso said.

"These are the names that obviously the market has placed the bets on," he said.

Adam Jeffery | CNBC

Trader Dan Nathan, on the other hand, picked a weakness play. Bank of America closed Wednesday just below $16 per share.

If anything causes it to slip below $15 per share, the level could make a good entry point, he said.

Deutsche Bank is a "solid name," said trader Pete Najarian. It climbed about a half a percent on Wednesday, and Najarian believes it has room for upside.

Disclosures:

Pete Najarian

Pete Najarian is long AAPL, AMAT, BABA, BAC, BMY, BP, CSX, DISC, GE, JPM, KKR, KO, LLY, LOCO, MRK, PEP and PFE. He is long calls AAL, APPL, CAM, COP, DAL, EXXI, FCAU, GE, GM, GRPN, GS, GT, HPQ, IAG, ISIL, JNJ, JPM, KNDI, MCD, NEE, RF, SPY, SYY, UAL, UFS, WFC, WMB, XOM and ZIOP. He is long puts BHP. Today, he bought EXXI calls and FCAU calls.

Dan Nathan

Dan Nathan is long BBRY June call spread, CTRP March puts, KO March put spread, M March 65/67.50 call spread, MU March 31/26 put spread, QQQ May put spread, SHAK, TWTR, XLF March put spread and XRT March 90/85 put spread. Today, he bought CTRP March puts.

Karen Finerman

Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GPS, GOOG, GOOGL, IBB, JPM, M, KORS, XBI and SUNE. Her firm is short IRET, SPY and MOY. Karen Finerman is on the board of GrafTech International.

Steve Grasso

Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS and TWTR. His firm is long FCX, NE, NEM, OXY, RIG, VALE and USO. His kids are long EFG, EFA, EWJ, IJR and SPY.