Options Action: Summer Swoon?

From unrest in the Mideast and financial woes in Europe to the budget battle in Congress, bulls could quickly find themselves under siege – and from many different directions.

With the S&P 500 up 24% since September and the market facing a string of potentially negative catalysts, could we be looking at a Summer Swoon?

Scott Nations of NationShares sure thinks so. But there’s no need to lose sleep over it. Instead he suggests the following options trade!




______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.


Trader disclosure: On March 24, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Guy Adami is Long (AGU); Guy Adami is Long (MSFT); Guy Adami is Long (C); Guy Adami is Long (INTC); Guy Adami is Long (NUE); Guy Adami is Long (GS); Guy Adami is Long (BTU); Steve Cortes is Long (TM)p; Steve Cortes is Long (EXC); Steve Cortes is Long (GS); Steve Cortes is Long (SO); Steve Cortes is Short (F); Steve Cortes is Short (BAC); Steve Cortes is Short (DBA); Steve Cortes is Short Natural Gas; Steve Cortes is Short Silver; Steve Cortes is Short Wheat; Steve Cortes is Short Corn; Steve Cortes is Short Beans; Steve Cortes is Short Japanese Yen; Joe Terranova is Long (C); Joe Terranova is Long (VRTS); Joe Terranova is Long (GS); Joe Terranova is Long (JPM); Joe Terranova is Long (UPL); Joe Terranova is Long (MS); Joe Terranova is Long (PBR); Joe Terranova is Long (BAX); Joe Terranova is Long (TEVA); Joe Terranova is Long (IBM); Joe Terranova is Long (BTU); Joe Terranova is Long (POT); Joe Terranova is Long (XOM); Joe Terranova is Long (DIS); Joe Terranova is Long (RSX); Joe Terranova is Long (CNQ); Joe Terranova is Long (CNX) Puts; Tim Seymour is Long (AGU); Tim Seymour is Long (BAC); Tim Seymour's Firm is Long (POT)

For Brian Kelly
Accounts managed by Kanundrum Capital Are Long (TLT)
Accounts managed by Kanundrum Capital Are Long U.S. Bonds
Accounts managed by Kanundrum Capital Are Long (GLD)
Accounts managed by Kanundrum Capital Are Long (SLV)
Accounts managed by Kanundrum Capital Are Long Gold
Accounts managed by Kanundrum Capital Are Long Corn
Accounts managed by Kanundrum Capital Are Long Soybeans
Accounts managed by Kanundrum Capital Are Long Wheat
Accounts managed by Kanundrum Capital Are Long Euro
Accounts managed by Kanundrum Capital Are Long (VLO)
Accounts managed by Kanundrum Capital Are Long (RDC)|
Accounts managed by Kanundrum Capital Are Long (MCP)
Accounts managed by Kanundrum Capital Are Short Yen
Accounts managed by Kanundrum Capital Are Short (XLF)
Accounts managed by Kanundrum Capital Are Short (IXG)

For Dennis Gartman
Funds managed by Dennis Gartman are Long Gold
Funds Managed by Dennis Gartman are long Oil
Funds Managed by Dennis Gartman are long Canadian Dollars
Funds Managed by Dennis Gartman are long Australian Dollars
Funds Managed by Dennis Gartman are long Corn
Funds Managed by Dennis Gartman are long Sugar
Funds Managed by Dennis Gartman are long Natural Gas
Funds managed by Dennis Gartman are Short Euros

For Rich Volpe
**No Disclosures**

For Colin Gillis
**No Disclosures**

For Scott Nations
Scott Nations is long (SPY)

For Heather Jones
BB&T Capital Markets is a Market Maker in (SFD)
BB&T Capital Markets is a Market Maker in (TSN)
BB&T Capital Markets expects to receive or intends to seek compensation for investment banking services from Smithfield Foods, Inc. and Tyson Foods, Inc. in the next three months.
An affiliate of BB&T Capital Markets received compensation from Smithfield Foods, Inc. and Tyson Foods, Inc. for products or services other than investment banking services during the past 12 months. The analyst or employees of BB&T Capital Markets with the ability to influence the substance of this report know or have reason to know the foregoing facts.


CNBC.com with wires.