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Traders: Here's how to play a British exit from the EU

The "Fast Money" traders weighed strategies for playing a "Brexit," after London's The Independent said Friday that 55 percent of those polled said that Britain should leave the European Union.

Trader Tim Seymour said the iShares MSCI United Kingdom ETF is the one to "play the U.K. and U.K. stocks." However, he was negative on Italian assets like the iShares MSCI Italy Capped ETF, which he said could come under some pressure.

Trader Steve Grasso said that it makes sense to follow Friday's market moves, like the sterling hitting a low of 1.418 against the dollar.

"Buy the dollar any way that you feel comfortable buying the dollar," said Grasso.

Trader Dan Nathan said that the SPDR EURO STOXX 50 ETF is "one way to play for the prior lows there over the next month or so."

Trader Guy Adami said a "Brexit" would lead to a drop in treasury yields, which he noted are already "historically low all across the world." He recommended looking at the iShares 20+ Year Treasury Bond ETF, which he thinks could go higher on the back of a British exit from the EU.

European Union and the Union flag
Dan Kitwood | Getty Images
European Union and the Union flag

Disclosures:

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck.

STEVE GRASSO

Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, UA, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. Grasso currently has no short positions. Stuart Frankel & Co Inc. and some of its Partners: SUN, AAPL, UAL, WHR, LDP, WDR, AVP, CVX, FCX, IBM, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, AMZN, MJNA, NXTD.

Dan Nathan

Long PFE Long TWTR, XHB long June put spread IWM long Sept 100 put XLB long June put spread XLF long Sept Put spread HYG long June put spread XLK long Sept Put spread FXI long aug put spread SMH long Aug put spread, KO June/Aug put calendar, long UA call calendar, long PYPL call calendar, long TLT Sept risk reversal, XLV July calls, MSFT June/July put spread, long C Sept puts.

Tim Seymour

Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT