Fishing with the panic is to use its features, the spoon is a vertical spoon but will swim when cast and retrieved or trolled (+ 2 mph ). I find the to function best with a rapid lift vs a rip, then allowing it to fall, I attempt to start the next lift just as the spoon reaches its downward most point creating a circling type affect ( using this will attract fish). Depending on the fish mood, I will either continue this or I will descend to the bottom or near it. Hold the spoon still, I will then twitch it just a half inch or so just flutter the blades. When search for fish or moving around structure to find the next fish or school, I will either up size the spoon or go slow enough to but a 10-15 degree angle in the line fishing just off the bottom or 2′ above twitching to click the blades and create flash. When I specifically target Kokanee Salmon, I fish the spoon with a slow lift and slack line drop, then hold just over the school or at the top of the sonar marks and just kinda shake the panic ( coffee shake like ice fishing). Stripers and Wipers, I throw it as far as I can and swim it back fast for 30 feet and then let it fall again and repeat. Just like all jigging lift drops and twitches trigger fish and will change daily. I very things a lot until it repeats a minimum of three times.
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