Running OCSL covered calls helps you generate consistent income from Oaktree Specialty Lending Corp's shares you already own, turning a long stock position into a yield-producing asset. A covered call on Oaktree Specialty Lending Corp involves holding the underlying stock and selling a call option against it, collecting premium in exchange for capping upside at the strike price. Use our scanner to find the best OCSL covered calls in real time and filter for the strikes, expiries, and premiums that fit your strategy.
A covered call is one of the most widely used options strategies because it pairs limited risk with a clear income profile: if OCSL stays below the strike at expiration, you keep the premium and the shares; if it rises above, you deliver the stock at the strike and still pocket the premium. Selling OCSL covered calls works best when implied volatility is elevated, since richer premiums improve the risk-reward. Key inputs to evaluate include strike selection relative to delta, days to expiration, annualized return, and the probability of assignment — all of which determine whether a given Oaktree Specialty Lending Corp covered call is worth writing.
Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity and management buyouts in small and mid-sized companies. It seeks to invest in education services, business services, retail and consumer, healthcare, manufacturing, food and restaurants, construction and engineering, and media and advertising sectors. It invests between $5 million to $75 million principally in the form of one-stop, first lien, and second lien debt investments, which may include an equity co-investment component in companies with enterprise value between $20 million and $150 million and EBITDA between $3 million and $50 million.
The fund has a hold size of up to $75 million and may underwrite transactions up to $100 million. It primarily invests in North America. The fund seeks to be a lead investor in its portfolio companies.
Income-focused investors, long-term OCSL holders, and systematic premium sellers all face the same challenge: finding the covered call strike and expiry that balances yield against the risk of being called away. Our scanner ranks covered calls by annualized return, downside protection, and probability of profit, so selling OCSL covered calls becomes a measured decision instead of a guess. Stop eyeballing the chain — let the best Oaktree Specialty Lending Corp covered calls come to you, already filtered for the metrics that matter.
