MGY Dividend Type Payments

Although MGY has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Magnolia Oil & Gas Corporation Class A to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Magnolia Oil & Gas Corporation Class A (MGY)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
26.17	26.87	26.53	-0.05	2.0M	13	5.7B

MGY Dividend-Like Income Using Covered Calls

With MGY at 26.53, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield	Annual Premium	Cents/Day
3%	0.80	0.2
5%	1.33	0.4
10%	2.65	0.7

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On MGY Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	30.00	1.70	337	0.5	3.13 (11.8%)
Jun 20	30.00	0.40	155	0.3	3.13 (11.8%)

5% Yield On MGY Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Dec 19	30.00	1.70	337	0.5	3.13 (11.8%)

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