Western Asset High Income Opportunity Fund Inc., incorporated in Maryland, is a diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act "). Funds seek high liquid income. Capital appreciation is a secondary goal. To achieve its investment objectives, under normal market conditions, the Fund invests at least 80% of its net assets in high-yield securities and up to 20% in common stock equivalents, including options, warrants and rights.