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Options Action: Deutsche Bank

Again, Europe’s biggest banks landed in the spotlight with investors again fearing the ripple from Greece.

That latest round of jitters were triggered by comments made by Deutsche CEO Josef Ackermann who compared the potential fall out to the 2008 collapse of Lehman Brothers.

"If it is Greece alone, that's already big. But if other countries are drawn in through contagion, it could be bigger than Lehman," the Deutsche Bank chief said at a Reuters banking event on Monday.

Investors took note, considering Deutsche is believed to be in the thick of things.

"Political leaders expect a solution by the end of the week, but we should not rush it," Ackermann said. "It is important to have a good solution. The issues are complex and need to be discussed," he said.

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Trader disclosure: On June 27, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour owns (BAC); Tim Seymour owns (AAPL); Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Adami owns (INTC); Terranova Owns (VRTS); Terranova Owns (IBM); Terranova Owns (FCX); Terranova Owns (CVI); Terranova Owns (F); Terranova Owns (AAPL); Terranova Owns (CAT); Terranova Owns (BX); Terranova Owns (HPQ); Terranova Owns (MA); Terranova Owns (PEP); Terranova Owns (MCD); Terranova Owns (JWN); Terranova Owns (TM); Terranova Owns (LULU); Terranova Owns (WFM); Terranova Owns (DAR); Terranova Owns (BJ); Terranova Owns (HAS); Terrnaova owns (DIS); Terranova Owns (XOM); Terranova Is Short (DELL); Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman owns (BAC); Finerman's Firm Owns (JPM) Leap, Finerman owns (JPM); Finerman's Firm owns (CMI), Finnerman is short (CMI); Finerman's firm owns (CAT) calls; Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Weiss owns (TWM); Weiss owns (DE); Weiss owns (CMA); Weiss owns (KEY); Weiss owns (QCOM); Weiss owns (NAV); Weiss owns (EMC); Weiss owns (MSFT); Weiss owns (HK); Weiss owns (COP); Weiss owns (AKAM); Weiss owns (ETP); Weiss owns (NS); Weiss owns (VZ)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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Nick Pope
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