Is she chasing after the boys literally? My son needs to expend extra energy at recess. Maybe she's not into stationary play and just needs to run around to settle down later.

I would ask the 2nd grade teacher about how she fares with the reading group there. One of the hardest transitions from K to 1st for my kids was the abrupt lack of play time. When my son went to the first grade classroom to meet his teacher he asked her where all the toys were. Not there, that's for sure!

Maybe you could find a way to bridge the gap and keep the higher grade reading.

If your now school promoted her to 2nd grade and skipped her for next year, would the magnet school take her as a 2nd grader then?