Blue Owl Capital Corp (OBDC) Wheel Strategy

Running a OBDC wheel strategy lets you generate consistent premium income on Blue Owl Capital Corp while setting your own entry and exit prices on the underlying. Blue Owl Capital Corp's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own OBDC, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best OBDC wheel strategy setups in real time.

The wheel works best on liquid, high-quality names with stable fundamentals and active options markets — exactly the profile many large-cap leaders fit. The mechanics are simple: sell a cash-secured put on OBDC, collect premium, and either keep the premium if it expires worthless or take assignment at a discount to current price. Once assigned, sell covered calls against the shares to keep collecting premium until they're called away. Choosing the right strikes, expirations, and IV environment is what separates a profitable OBDC wheel from a losing one.

Owl Rock Capital Corporation is a business development company. The fund makes investments in senior secured or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments and common equity investments. Within private equity, it seeks to invest in growth, acquisitions, market or product expansion, refinancings and recapitalizations. It seeks to invest in middle market companies based in the United States, with EBITDA between $10 million and $250 million annually and/or annual revenue of $50 million and $2.5 billion at the time of investment.

The difference between a wheel that compounds and one that bleeds comes down to strike selection, IV timing, and discipline on assignment. Our scanner handles the heavy lifting: it ranks every leg of the OBDC wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your OBDC wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.