Futures Now trades for Tuesday, May 29

Political turmoil in Italy sent stocks around the globe sinking on Tuesday. The "Futures Now" traders shared their trades as geopolitical concerns rocked stocks, bonds and crude market.

Scott Nations is buying the Dow e-mini at 24,350 and targeting a move up to 24,500 with a stop at 24,250. The Dow plunged more than 400 points at its lows on Tuesday.

Brian Stutland is buying the 10-year note futures at 120'10, targeting a move up to 121'14. His stop is at 119'26.

Crude tumbled to April 17 lows. Scott Nations is buying the August monthly 70-strike calls in the crude oil futures July contract for $1.05, or $105 per options contract. The breakeven for this trade is $71.05.

Trader disclosures: Scott is long the S&P e-mini and the VIX, he has no position in crude or the 10-year Treasury futures. Brian is long the S&P e-mini using options. He is also long the VIX, and has no position in crude or the 10-year Treasury futures.

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