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5 ways to trade today's market

As all three major averages closed lower Monday, the "Fast Money" traders shared their trades as the market braces itself for a possible March interest rate hike.

Trader Tim Seymour said he sees signs of people losing confidence in the market and is protecting himself by buying puts and shorts in iShares Russell 2,000 ETF and iShares Transportation Average ETF.

Trader Steve Grasso is holding on to his stock in Monsanto, because of its $128 per share sale price if a deal with German pharmaceutical company Bayer goes through. The stock closed at $114.65 per share on Monday.

Trader Dan Nathan said he is bearishly positioned in Starbucks as the company continues to have disappointing same-store sales in the U.S.

Trader Guy Adami said he likes Salesforce.com's after the cloud computing company announced an artificial intelligence dealwith technology giant IBM on Monday.

Disclosures:

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

Dan Nathan is long SPY May put spread, VIX long March call spread, JNJ long APR puts, SBUX long April/May put spread.

Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM

Steve Grasso's firm is long: CHK, CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SPY, T, TWTR. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. Grasso bought SNAP stock. No Shorts.