MSTY Ex-Dividend Date & Dividend Calculator

YieldMax MSTR Option Income Str (MSTY) is an ETF that funds its dividend through covered-call option premium, paying a weekly distribution at a yield of 34.7%. In exchange for a high payout, upside is capped and there's a risk of NAV erosion. Evaluate it on long-run total return (dividend + price), not short-term income alone.

The distribution amount is a variable-dividend structure that changes month to month with option-market volatility, so past yield does not guarantee future payments. Before investing, read the covered-call ETF risk guide and the complete dividend-types guide.

Strategy structure — MSTY (YieldMax MSTR Option Income Strategy ETF) uses the same synthetic-options YieldMax structure as NVDY, but the underlying is MSTR (MicroStrategy) — which changes the risk profile considerably. MSTR itself holds a large bitcoin treasury and uses convertible-debt leverage, making MSTY effectively 'a leveraged bitcoin proxy with an options overlay on top' — a two-layer structure.

Payout mechanics and outcome — MSTR's implied volatility is large enough that option premiums can be substantial, so the headline distribution can look impressive. But when bitcoin drops sharply, MSTR tends to fall even more sharply, and MSTY's NAV can decline by more than the premium income offsets — the payout and principal value do not move together.

Things to watch — Bitcoin's price, MSTR's leveraged capital structure, and options-selling volatility risk are all stacked on top of each other here. Reading the yield number on this page alone and treating it as a normal high-dividend stock would be a mistake. Read the YieldMax structure explainer and the covered-call ETF risk guide first, then see the actual range of outcomes in the 5-year simulator.

The numbers right now (as of 2026.09.09) — the dividend yield is 34.7%, paid weekly. MSTY is classified as a variable-dividend name — the payout differs from one period to the next. Recent payments has swung noticeably from one payment to the next (variability score 0.17). The per-payment amount is about $0.2122, paid roughly 52 times a year. This figure is recalculated every period, so it isn't guaranteed to hold going forward — it's a reference point based on past payment history.

What to check if you're holding it — MSTY sits at the end of a two-stage chain: bitcoin's price moves MSTR's stock, which moves the option premium. In a week where bitcoin swings sharply, that whole chain moves with it, so it's safer to watch the NAV trend alongside the distribution figure, not the distribution alone. The ex-dividend date shown (2026-09-10) is not an official announcement — it's estimated from past payment intervals. See the single-stock covered-call structure explainer and the weekly-dividend ETF roundup.