Panic Button is a trinket in The Binding of Isaac, added in the Repentance DLC.

Forces Isaac's active item to activate right before he is about to take damage, if charged.

Since the item is activated before damage is taken, the trinket can be used as a damage-negation mechanic with certain items, such as Book of Shadows.

Does not activate active items in the consumables slot.

Super-charged items will use both of their charges.

This page shows the latest information as of the new Repentance+ (Online Co-op) DLC.
To see information about this trinket for the previous Repentance version, check this page instead.

The following special synergies and interactions for Panic Button have been documented.

* Note that not all possible synergies and interactions are listed here.

Below is the Internal Item Description as shown in-game.
Note that some stat changes are not displayed here. Please see the main description for the full effects.

Panic Button

• Just before taking damage, if charged, automatically use Isaac's active item
• Golden Trinket (without Mom's Box): 10% chance to not deplete the item charge
• Mom's Box: 10% chance to not deplete the item charge
• Mom's Box + Golden Trinket: 20% chance to not deplete the item charge

• Check out the trinket description on the external Isaac Wiki.