Speaker wants DRAM exposure for the memory bottleneck theme but prefers acquiring it at a lower price via cash-secured puts instead of buying now.

And that brings us to the investment that I'm making, DRRAM, which is the Roundill Memory ETF. It only launched back in the beginning of April of this year, so it's still relatively a new ETF.

But instead of giving investors broad semiconductor exposure, DRAM specifically targets the global memory industry. That includes companies involved in HBM, DRAM, NAND, and other memory technologies.

The ETF also comes with an expense ratio of 65%. That gives me something I don't really get from simply buying Nvidia or simply buying AMD. Diversified exposure to the memory bottleneck.

So rather than trying to predict which memory manufacturer ultimately captures the most AI demand, I'm interested in owning the theme and DRAM allows me to do that.

Now, of course, there's the cost that I mentioned. The ETF does carry an expense ratio of 65%. And for me personally, that is on the somewhat higher side. So you need to determine whether the diversification is worth paying that fee versus owning the individual companies.

For me, I think it's an interesting vehicle, but I'm not simply buying shares today. I'm utilizing a option strategy. I'm selling a cash secured put.

But when it comes to memory, I like DRRAM and I want exposure to DRRAM. I already want to own it. I don't own it right now, but I would love owning it at a better price.

Therefore, I will take the route of selling a cash secured put or CSP on DRRAM.

I'm also on the hook to buy shares of DRAM if they were to fall below my strike price before the expiration date. And that strike price is $45 per share. So even with the 7% drop in shares of DRAM today, I can afford another 20% drop from current levels.

Outcome number one, DRAM stays above the $45 strike price through expiration. The option expires worthless. I keep the near $2,000 in premium I received. I don't own the ETF.

But outcome number two is let's say DRRAM continues to fall and it falls below my $45 strike price. Well, in that point, I'm going to get assigned those shares. I now have to purchase a 100 shares per contract at the stated strike price of $45, which is 4500 per contract there.

And that's the scenario I'm comfortable with because I don't mind buying DRAM at a lower cost.

Risk number four, ETF concentration. DRAM is targeted exposure. That's the benefit, but it's also a risk. This isn't the S&P 500. It's concentrated around the semiconductor subsector of memory.

And if the memory cycle turns down, virtually everything inside of this ETF could get hit simultaneously.

And I'm doing it with the use of DRRAM. By selling a cash secured put at a price where I'm comfortable buying, not at today's level, but another 20% lower. If DRRAM rebounds, I keep my premium.

If the sell-off continues, I get assigned and I'm not buying it at today's price. I'm potentially owning investment I already want to own at a lower effective cost basis.

Is it Nvidia, AMD, Micron, Credo, Drram, maybe something else?