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Here's how traders are positioned ahead of Election Day

The "Fast Money" traders shared their strategies before Americans pick either Donald Trump or Hillary Clinton as the next president.

Trader Steve Grasso cautioned investors to wait for closure from the election before shuffling their portfolios. He said he would mostly hold cash going into the election.

Trader Brian Kelly said he is holding gold going into the election. For one, it works as a tail-risk hedge in the situation where Trump wins, but Kelly explained that both major party candidates will push up inflation expectations.

For investors looking to stay long in the financial sector, trader Guy Adami said to look at U.S. Bancorp as it's "the most conservative bank out there."


Disclosures:

GUY ADAMI

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

BRIAN KELLY

Brian Kelly is long Bitcoin, SLV and silver futures, US Dollar UUP. He is short the Japanese yen and the euro.

STEVE GRASSO

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

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, CVX, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: EEM, SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM.