Micron earnings are set to send the market on a wild ride — and a new ETF may add to the volatility

The Micron Technology offices in San Jose, California, Dec. 16, 2025. David Paul Morris | Bloomberg | Getty Images A new ETF seeking to leverage Micron's volatility has emerged – right in the nick of time After the massive success of the Roundhill Memory ETF (DRAM) – a fund that's gathered more than $22 billion in less than three months and has more than doubled in value since its April debut – asset manager Roundhill Investments, alongside REX Shares and Tuttle Capital Management, launched a new offering on Wednesday. The Roundhill T-REX 2X Long DRAM Daily Target ETF (RAM) is a 2x levered version of DRAM that began trading at around $24 per share. The launch capitalizes not just on the popularity of Micron Technology as a stock and options favorite among investors after a 700% one-year rally, but also the growing popularity of leveraged funds and traders' general comfort, if not preference, to be in volatile products tied to the artificial intelligence boom. Stock Chart Icon Stock chart icon Micron Technology in the past 12 months Micron is set to report earnings Wednesday night, and you'd be hard-pressed to find an investor that doesn't have some exposure to the stock in one form or another. It's now the fourth-biggest holding in the $73 billion VanEck Semiconductor ETF (SMH) , a 28% weight in the DRAM ETF, and 8% of the roughly $30 billion levered fund Direxion Daily Semiconductor Bull 3X ETF (SOXL) . It's also among the top 10 largest companies in the S&P 500. …