Money in Motion

How to Trade the Turmoil in Greece

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This could be a make or break weekend for Greece, strategists say. Here's how to play the uncertainty.

Those Greeks sure know their brinksmanship. A vote is expected Sunday on an austerity plan, and strategists like Brian Kelly of Shelter Harbor Capitol say markets are hanging on the results.

"You will know Sunday night whether it is risk on or risk off for every single asset class," he says. "I can make the case that if Greece does end up leaving the euro zone, you have a fiscally stronger euro area, and therefore the euro could go higher. But I don't really know what's going to happen."

Before you reach for the smelling salts, Kelly told CNBC's Melissa Lee that he has a way to play the uncertainty: get risk out of the equation by trading the dollar against the Swiss franc.

"The Swiss franc has been traditionally a safe haven asset, but the Swiss National Bank has put a floor under the euro-Swiss franc cross  - which de facto puts a floor under the U.S. dollar-Swiss. So I can get the euro out of it."

Kelly wants to enter the trade at 0.9170 with a stop at 0.9080 and a target of 0.9500.

Rebecca Patterson, chief markets strategist for J.P. Morgan Asset Management, Institutional, agrees that the trade has potential. "You've got the Swiss National Bank helping you on this trade," she says.

Greek Parliament Will Debate Austerity Package on Sunday

You can watch the discussion on this video.



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