Bank Stocks Plunge and Traders Left in Limbo as Options Owners Seek Lifeline

Shares of Silicon Valley Bank, which trades under the ticker symbol "SIVBQ," have reopened for trading after being halted for nearly three weeks. The stock fell to as low as a penny on Tuesday and has since rallied more than 9,000% to nearly a dollar. The bank is in the process of being acquired by First Citizens Bank, and there is no equity value in Silicon Valley Bank despite its stock trading in an extremely volatile range. Traders are speculating in a volatile stock, trying to make a profit before the stock is ultimately delisted.