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Traders weigh opportunity in Deutsche Bank as European banks gain

The "Fast Money" traders debated whether it's time to buy Deutsche Bank after the European banks saw their best weekly performance in a month.

Trader Karen Finerman said "the leverage and potential volatility in [Deutsche Bank] is enormous." She said she bought some call options in the stock.

Trader Steve Grasso agreed and said he was tempted to buy the stock on Friday. Grasso said he feels Deutsche will be able to resolve its issues and that he sees positive headlines for the bank rolling in.

Trader Guy Adami wasn't confident that was the case. He said the $14-billion opening position levied by the Justice Department in September came well after the stock had begun to decline. U.S.-listed shares of Deutsche have declined more than 52 percent in the past year.

Disclosures:

STEVE GRASSO

Grasso is long: BA, CC, CHK, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own: EFA, EFG, EWJ, IJR, SPY NO SHORTS. His firm is long VIRT, DVN, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR, FP

BRIAN KELLY

Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, US Dollar UUP. He is short the euro and Japanese yen.

KAREN FINERMAN

Karen is long AAL, BAC, C, DAL, long DB calls, short DB preferred, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International.

GUY ADAMI

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