U.S. crude oil prices fell Tuesday, and "Fast Money" traders discussed how they would play a continued slide in the commodity.
"Here, at these levels, I'm more inclined to be a seller than a buyer of crude oil," said trader Guy Adami.
U.S. crude settled 0.47 percent lower, or 23 cents, at $49.10 a barrel, after hitting a seven-month high above $50 on Thursday. If oil starts to fall again, it could send the CBOE Crude Oil Volatility Index higher, Adami added.
The index has fallen 18 percent this year amid an 18 percent climb in WTI crude futures. However, it popped nearly 6 percent on Tuesday.
Traders bearish on crude could also bet against the Energy Select Sector SPDR Fund, said trader Dan Nathan. The fund is up nearly 11 percent this year.