ilicon Valley Bank, $SIVB, CEO has said to investors: "stay calm and don’t panic," per NYP.

Today, $SIVB is down nearly 60% today.

The flow on $SIVB has been bearish for a while, since at leas Feb 15th.

Check the opening flow alerts from this morning.

People smelt blood and pushed SIVB down with 100% bearish alerts. Yet let's look at opening alerts over last ten days.

You'll see traders were mainly bearish, with many opening trades (ie: new positions).

Let's take one example, the $SIVB 210 P 4/21/2023. Traders were trading this on March 6th, opening a new position for $3.67 per contract. That is now trading at $58.30.

The trader is out of their position as of today. This trader made approximately 2000% in three days. They won the lotto.

Let's look at those opening alerts from this morning (say you followed the flow). You'd see traders were trying to push $SIVB down with 11-18% OTM puts, heavily. Those traders exited their position, and made around 600% from the morning. Unusual.