He chose the iShares Russell 2000 ETF as an "outright" safety play. The fund, which has a broad exposure to small-cap companies, has climbed 4 percent this year.
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Trader Brian Kelly liked a short to play potential havoc in the market. Amid low liquidity and rising rates, corporate debt default could increase, he said.
He would short the iShares iBoxx $ High Yield Corporate Bond ETF.
Read MoreHow experts are playing this market
Kelly also said a combination of shorting the Japanese yen and taking a stake in Japanese stocks looks appealing. He would play Japan through the ProShares UltraShort Yen and the WisdomTree Japan Hedged Equity Fund.
Tim Seymour is long AAPL, T, BAC, C, DIS, F, FXI, GE, GM, GOOGL, INTC, KORS and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and YHOO.
Long AEP, BBY, CS, CSLT, GE, HOG, HSBC, HZNP, KORS, MCD, MW, NEE, NRG, PG, RHT, SIMO, SYK, TTWO, TLT, VIX, XLI and YPF. He is long calls AIG, ANF, ARG, ARIA, CA, CBS, CTXS, DE, DRI, EBAY, ETFC, GE, GLD, IDTI, JNPR, KING, KO, LLY, MCD, MU, NUAN, PG, PHM, SFUN, SNDK and SUNE. He is long puts KORS and LC. Today he bought ARG calls, MU calls, CA calls, ETFC calls and LC puts.
Dan is long LNKD July call fly, LVS July Aug put spread, GOOGL June/July call spread, TWTR, BBRY June calls, SO, DE June put fly, INTC July put and SPY June put fly. He is short SO Aug calls. Today he sold to close TLT June call butterfly and GOOGL June call fly.
Brian Kelly is long DXGE, BTC=, BBRY and U.S. dollar. He is short Australian dollar, Canadian dollar, yen and yuan.