Key Highlights

  • Tradr 2X Short SNDK Daily ETF (CBOE:SNDQ) rose 16.02% to USD 18.65 on October 22, 2026, implying Sandisk fell about 8.0%, with Sandisk reporting on October 29 and guiding Revenue to USD 10.3 billion to USD 10.8 billion.
  • GraniteShares 2x Short SK Hynix Daily ETF (NASDAQ:SKDD) rose 13.14% to USD 12.38, implying SK hynix fell about 6.6%, with consensus pointing to record third-quarter operating profit near KRW 77 trillion on October 29.
  • Tradr 2X Short SK hynix Daily ETF (CBOE:SKHN) rose 13.12% to USD 18.28, implying SK hynix fell about 6.6%, though Assets were only about USD 0.5 million at the last reading, so spreads can be wide.
  • T-REX 2X Inverse DRAM Daily Target ETF (CBOE:RAMZ) rose 13.05% to USD 22.52, implying the Roundhill Memory ETF fell about 6.5%, as J.P. Morgan raised its fourth-quarter DRAM contract price forecast to a 10% to 15% rise.

Tradr 2X Short SNDK Daily ETF (CBOE:SNDQ): Sandisk, NAND leader with 84.6% gross margin

The fund rose 16.02% in the October 22, 2026 session, implying Sandisk fell about 8.0%. Sandisk had already fallen about 20% in October through October 15, after Chinese memory maker ChangXin announced DRAM design progress on October 10 and 11, and on top of profit-taking. On October 22 the selloff broadened. Sandisk, Advanced Micro Devices and Intel fell roughly 4% to 5% in premarket trading, and Micron fell too. Sandisk's close on October 15 was USD 1,394.83. For Tradr 2X Short SNDK Daily ETF (CBOE:SNDQ), Sandisk's October 29 report is the marker. Sandisk (NASDAQ:SNDK) reported fiscal fourth-quarter revenue of USD 8.965 billion, with datacenter revenue of USD 2.977 billion, up 103% sequentially, and non-GAAP EPS of USD 39.25. Guidance for the quarter ending September 2026 is non-GAAP EPS of USD 44 to USD 46 and gross Margin of 83% to 85%. TrendForce expects NAND contract prices to rise 15% to 20% in the fourth quarter. Sandisk holds no Debt and has USD 15.5 billion of buyback authorization. Investor Day targets on August 13 include about 80% non-GAAP gross margin and about 50% free Cash Flow margin over fiscal 2028 to 2030.

GraniteShares 2x Short SK Hynix Daily ETF (NASDAQ:SKDD): SK hynix, HBM leader, GraniteShares fund

The fund rose 13.14% in the October 22, 2026 session, implying SK hynix fell about 6.6%, simple arithmetic ignoring fees. The prior day it had fallen 5.12%, when SK hynix gained. Memory stocks have been under pressure since China's ChangXin Memory announced DRAM design progress on October 10 and 11. On October 22 the selloff spread. Micron and Sandisk also fell in premarket trading. SK hynix shares trade in Seoul, so the US-listed fund reacts to a different clock. At GraniteShares 2x Short SK Hynix Daily ETF (NASDAQ:SKDD), SK hynix's October 29 report is the marker. SK hynix plans to announce third-quarter results on October 29, 2026. Consensus operating profit is about KRW 77 trillion, the sixth straight record, on a margin near 78%. Counterpoint Research puts its HBM revenue share at 50% in the second quarter, ahead of Samsung at 33% and Micron at 18%. J.P. Morgan raised its fourth-quarter DRAM contract price forecast to a 10% to 15% rise and NAND to 15% to 20%. HBM4 sales for Nvidia's Vera Rubin platform are fully included from the third quarter.

Tradr 2X Short SK hynix Daily ETF (CBOE:SKHN): SK hynix, Tradr fund with tiny assets

The fund rose 13.12% in the October 22, 2026 session, implying SK hynix fell about 6.6%, simple arithmetic ignoring fees. Memory shares have been jumpy since China's ChangXin Memory announced DRAM design progress on October 10 and 11, a headline that triggered heavy selling in memory names. On October 22 sellers returned. Sandisk, Micron and Advanced Micro Devices were all lower in premarket trading. The fund is among the smallest in this group, so its price can move more than its net asset value suggests. For Tradr 2X Short SK hynix Daily ETF (CBOE:SKHN), SK hynix's October 29 report is the marker. Daily resets mean Tradr 2X Short SK hynix Daily ETF (CBOE:SKHN) can lose money even when the underlying falls over several days. SK hynix is the leading supplier of high-bandwidth memory, with a 50% revenue share in the second quarter according to Counterpoint Research. J.P. Morgan estimates it will hold 54% of Nvidia's HBM Supply this year. HBM4 sales are fully included from the third quarter. Consensus operating profit is KRW 76.964 trillion for the third quarter and KRW 87.27 trillion for the fourth.

T-REX 2X Inverse DRAM Daily Target ETF (CBOE:RAMZ): Roundhill Memory ETF basket exposure

The fund rose 13.05% in the October 22, 2026 session, implying the Roundhill Memory ETF fell about 6.5%, simple arithmetic ignoring fees. Memory stocks were hit by a broad selloff. Sandisk, Micron and Advanced Micro Devices fell in premarket trading, and the semiconductor ETF fell about 4% to 5%. Memory shares had also reacted to China's ChangXin Memory announcing DRAM design progress on October 10 and 11, and profit-taking after large 2026 gains. At T-REX 2X Inverse DRAM Daily Target ETF (CBOE:RAMZ), memory contract prices are the marker. J.P. Morgan sees DRAM contract prices up 10% to 15% in the fourth quarter. The underlying, the Roundhill Memory ETF (CBOE:DRAM), holds memory-related companies. Their Earnings depend on contract prices and AI demand. J.P. Morgan sees fourth-quarter DRAM contract prices up 10% to 15% and NAND up 15% to 20%, and TrendForce also expects NAND contract prices to rise 15% to 20%. SK hynix and Sandisk both report on October 29, 2026.

Where Things Stand

These funds rose because memory stocks fell with the wider AI complex and after China's ChangXin Memory announced DRAM design progress on October 10 and 11, and each fund pays twice the inverse. Fundamentals remain unusually strong, with rising contract prices and record profit forecasts, so the move is sentiment. Both SK hynix and Sandisk report on October 29, 2026, and a strong print would hurt SNDQ, SKDD, SKHN and RAMZ within a session. T-REX 2X Inverse DRAM Daily Target ETF (CBOE:RAMZ) tracks the memory basket, and SKHN is tiny.