Blackstone Secured Lending Fund (BXSL) Covered Calls

Blackstone Secured Lending Fund (BXSL) is a leading business development company focused on senior secured loans to private U.S. middle-market companies. Managed by Blackstone Inc., the world’s largest alternative asset manager, BXSL prioritizes high current income and capital preservation through floating-rate debt.

You can sell covered calls on Blackstone Secured Lending Fund to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for BXSL (prices last updated Tue 4:16 PM ET):

Blackstone Secured Lending Fund (BXSL) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
23.84 +0.27 23.91 24.09 2.7M 8.9 0.0
Covered Calls For Blackstone Secured Lending Fund (BXSL)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Mar 20 25 0.15 23.94 0.6% 8.8%
Apr 17 25 0.25 23.84 1.0% 6.9%
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Blackstone Secured Lending Fund (NYSE: BXSL) is a specialty finance company regulated as a business development company (BDC). Managed by an affiliate of Blackstone Inc., the world’s largest alternative asset manager, the fund leverages massive institutional resources to identify lending opportunities. BXSL primarily invests in the debt of private U.S. companies, with a heavy emphasis on first-lien senior secured and unitranche loans. Its objective is to generate consistent current income and long-term capital appreciation for its shareholders by targeting stable, sponsor-backed businesses with resilient cash flows.

Core Business and Products

  1. First-Lien Senior Secured Loans: These represent the vast majority of the portfolio. As first-lien debt, these investments are at the top of the borrower’s capital structure, providing priority repayment and robust collateral protection in various economic cycles.
  2. Unitranche Financing: The fund offers specialized "one-stop" financing that blends senior and junior debt into a single instrument. This structure provides borrowers with execution speed and simplicity while allowing BXSL to capture enhanced yields and better structural terms.
  3. Floating-Rate Debt Portfolio: Substantially all of the fund’s debt investments pay a floating interest rate. This strategy is designed to protect investor returns in rising interest rate environments, as the income generated by the loans adjusts upward with market benchmarks.
  4. Direct Origination: Utilizing the Blackstone platform, the fund directly originates loans rather than buying them on the secondary market. This direct relationship allows for comprehensive due diligence and the inclusion of strict protective covenants.

Competitive Landscape

In the competitive private credit market, BXSL faces off against other large-scale BDCs. Its primary competitor for major deal flow is Ares Capital Corp, the industry’s largest player. It also competes with Blue Owl Capital Corp. and FS KKR Capital Corp for large, sponsor-led transactions. In the retail-facing BDC space, it is often compared to Main Street Capital and Golub Capital BDC. BXSL’s main advantage is its "Blackstone Advantage," which provides it with access to proprietary data and a global network of over 250 portfolio companies for deal sourcing and performance benchmarking.

Strategic Outlook and Innovation

The fund’s strategy for 2026 centers on the "megatrends" identified by Blackstone’s global investment committee, specifically AI-related digital infrastructure and the energy transition. Management is prioritizing lending to data center operators and high-tech manufacturing firms, sectors where demand for capital remains high and cash flows are predictable. By focusing on these high-growth areas, BXSL aims to maintain its low non-accrual rate while deploying capital into resilient industries. This selective approach ensures the fund can sustain its high-dividend payout even as broader economic conditions fluctuate.

Digital innovation is also a key component of the fund’s operational strategy. BXSL utilizes proprietary AI-driven analytics to monitor the credit health of its borrowers, allowing the investment team to identify potential stress signals long before they manifest in financial reports. This predictive capability is a core part of its risk management framework. Additionally, the fund is expanding its focus on sustainability-linked loans, rewarding borrowers who meet specific environmental and social targets. This move aligns with global institutional trends and positions BXSL as a forward-thinking leader in the evolving private credit landscape.