PAGE  1
000 B000000 05/31/2011
000 C000000 0001380936
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 GUGGENHEIM STRATEGIC OPP FUND
001 B000000 811-21982
001 C000000 6305053700
002 A000000 2455 CORPORATE WEST DRIVE
002 B000000 LISLE
002 C000000 IL
002 D010000 60532
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 GUGGENHEIM FUNDS INVESTMENT ADVISORS, LLC
008 B000001 A
008 C000001 801-000000
008 D010001 LISLE
008 D020001 IL
008 D030001 60532
008 A000002 GUGGENHEIM PARTNERS ASSET MANAGEMENT, INC.
008 B000002 S
008 C000002 801-000000
008 D010002 SANTA MONICA
008 D020002 CA
008 D030002 90401
010 A000001 GUGGENHEIM FUNDS INVESTMENT ADVISORS, LLC
010 B000001 84-0000000
010 C010001 LISLE
010 C020001 IL
010 C030001 60532
011 A000001 WACHOVIA CAPITAL MARKETS LLC
011 B000001 8-00000000
      PAGE  2
011 C010001 CHARLOTTE
011 C020001 NC
011 C030001 28288
011 A000002 RAYMOND JAMES & ASSOCIATES, INC.
011 B000002 8-00000000
011 C010002 ST. PETERSBURG
011 C020002 FL
011 C030002 33716
012 A000001 THE BANK OF NEW YORK MELLON
012 B000001 84-0000000
012 C010001 NEW YORK
012 C020001 NY
012 C030001 10286
013 A000001 ERNST & YOUNG LLP
013 B010001 CHICAGO
013 B020001 IL
013 B030001 60606
015 A000001 THE BANK OF NEW YORK MELLON
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018  000000 Y
019 A000000 N
019 B000000    0
020 A000001 BARCLAYS
020 B000001 13-3551367
020 C000001     72
020 A000002 JEFFERIES & COMPANY INC.
020 B000002 95-2622900
020 C000002     19
020 A000003 MORGAN STANLEY & CO. INC.
020 B000003 13-2655998
020 C000003     16
020 A000004 BNP PARIBAS
020 B000004 UNKNOWN
020 C000004      8
020 A000005 BANK OF AMERICA INTERNATIONAL, LDN
020 B000005 UNKNOWN
020 C000005      5
020 A000006 JP MORGAN INVT MGMT
020 B000006 13-3200244
020 C000006      3
020 A000007 BANAMEX S.A.
020 B000007 UNKNOWN
020 C000007      2
020 A000008 FG INVERSIONES BURSATILES
020 B000008 UNKNOWN
020 C000008      2
020 A000009 MERRILL LYNCH & CO.
      PAGE  3
020 B000009 13-2740599
020 C000009      1
020 C000010      0
021  000000      128
022 A000001 BARCLAYS
022 B000001 13-3551367
022 C000001     21501
022 D000001     46869
022 A000002 JEFFERIES & COMPANY INC.
022 B000002 95-2622900
022 C000002      4699
022 D000002     53343
022 A000003 MORGAN STANLEY & CO. INC.
022 B000003 UNKNOWN
022 C000003      4343
022 D000003     50297
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004      6116
022 D000004     13445
022 A000005 GREENWICH CAPITAL - REPURCHASE AGREEMENT
022 B000005 UNKNOWN
022 C000005       247
022 D000005     19092
022 A000006 CREDIT SUISSE FIRST BOSTON CORP
022 B000006 13-5659485
022 C000006      6444
022 D000006     11778
022 A000007 BANK OF AMERICA INTERNATIONAL, LDN
022 B000007 UNKNOWN
022 C000007      3164
022 D000007     13287
022 A000008 BANAMEX S.A.
022 B000008 UNKNOWN
022 C000008      4828
022 D000008     10496
022 A000009 DIRECT
022 B000009 UNKNOWN
022 C000009      9302
022 D000009      4480
022 A000010 CITIGROUP GLOBAL MARKETS
022 B000010 UNKNOWN
022 C000010      3932
022 D000010      5443
023 C000000      64576
023 D000000     228530
024  000000 Y
025 A000001 BARCLAYS BANK PLC
025 B000001 13-4075851
025 C000001 D
025 D000001    1107
      PAGE  4
025 A000002 BB&T CAPITAL TRUST VI
025 B000002 N/A
025 C000002 E
025 D000002    1063
025 A000003 BNP PARIBAS
025 B000003 N/A
025 C000003 D
025 D000003    1188
025 A000004 DEUTSCHE BANK CONTINGENT CAPITAL TRUST II
025 B000004 N/A
025 C000004 E
025 D000004    1250
025 A000005 ROYAL BANK OF SCOTLAND GROUP PLC
025 B000005 N/A
025 C000005 D
025 D000005    1159
025 A000006 WELLS FARGO CAPITAL XIII
025 B000006 N/A
025 C000006 D
025 D000006    1028
025 D000007       0
025 D000008       0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 N
028 A010000         0
028 A020000         0
028 A030000         0
028 A040000         0
028 B010000         0
028 B020000         0
028 B030000         0
028 B040000         0
028 C010000         0
028 C020000         0
028 C030000         0
028 C040000         0
028 D010000         0
028 D020000         0
028 D030000         0
028 D040000         0
028 E010000         0
028 E020000         0
028 E030000         0
      PAGE  5
028 E040000         0
028 F010000         0
028 F020000         0
028 F030000         0
028 F040000         0
028 G010000         0
028 G020000         0
028 G030000         0
028 G040000         0
028 H000000         0
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
035  000000      0
036 B000000      0
038  000000      0
042 A000000   0
042 B000000   0
042 C000000   0
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000      0
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  1.000
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
      PAGE  6
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056  000000 N
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 Y
060 B000000 Y
061  000000        0
062 A000000 Y
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.5
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   2.1
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000  40.2
062 Q000000  79.7
      PAGE  7
062 R000000  18.6
063 A000000   0
063 B000000 13.6
064 A000000 N
064 B000000 N
066 A000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 Y
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 Y
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000    167087
071 B000000    150749
071 C000000    233782
071 D000000   64
072 A000000 12
      PAGE  8
072 B000000    22126
072 C000000      568
072 D000000        0
072 E000000        0
072 F000000     2462
072 G000000       64
072 H000000        0
072 I000000       20
072 J000000       60
072 K000000        0
072 L000000       89
072 M000000      107
072 N000000       22
072 O000000        0
072 P000000     1479
072 Q000000      121
072 R000000       46
072 S000000      147
072 T000000        0
072 U000000        0
072 V000000        0
072 W000000      119
072 X000000     4736
072 Y000000        0
072 Z000000    17958
072AA000000     9226
072BB000000        0
072CC010000    13767
072CC020000        0
072DD010000    17371
072DD020000        0
072EE000000        0
073 A010000   1.8750
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0000
074 A000000     2052
074 B000000        0
074 C000000      894
074 D000000   224576
074 E000000     5157
074 F000000        0
074 G000000        0
074 H000000        0
074 I000000    33703
074 J000000     2751
074 K000000        0
074 L000000     2197
074 M000000     1119
074 N000000   272449
074 O000000     3371
      PAGE  9
074 P000000      232
074 Q000000    33052
074 R010000    47618
074 R020000        0
074 R030000      409
074 R040000      434
074 S000000        0
074 T000000   187333
074 U010000     9318
074 U020000        0
074 V010000    20.11
074 V020000     0.00
074 W000000   0.0000
074 X000000     8829
074 Y000000   158691
075 A000000        0
075 B000000   176116
076  000000    22.32
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000     6475
081 A000000 Y
081 B000000   7
082 A000000 N
082 B000000        0
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
086 A010000    107
      PAGE  10
086 A020000   2186
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
087 A010000 COMMON STOCK
087 A020000 18385X104
087 A030000 GOF
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE   JOHN SULLIVAN
TITLE       CFO, CAO & TREASURER