XML 33 R43.htm IDEA: XBRL DOCUMENT v2.4.1.9
Derivative Financial Instruments - Summary of Eurodollar Futures Positions (Details) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 1.73%us-gaap_DerivativeAverageVariableInterestRate 2.02%us-gaap_DerivativeAverageVariableInterestRate
Notional Amount $ 760,000,000invest_DerivativeNotionalAmount $ 257,353,000invest_DerivativeNotionalAmount
Open Equity (4,302,000)orc_OpenEquity 4,898,000orc_OpenEquity
Eurodollar Future [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 1.73%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
2.02%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
Notional Amount 760,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
257,353,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
Open Equity (4,302,000)orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
4,898,000orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
Year 2014 Expiration [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 0.00%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
0.40%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
Notional Amount 0invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
262,500,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
Open Equity 0orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
(189,000)orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
Year 2014 Expiration [Member] | Eurodollar Future [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 0.00%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
0.40%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
Notional Amount 0invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
262,500,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
Open Equity 0orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
(189,000)orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SecondYearExpirationMember
Year 2015 Expiration [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 0.63%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
0.80%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
Notional Amount 650,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
275,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
Open Equity (1,039,000)orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
(146,000)orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
Year 2015 Expiration [Member] | Eurodollar Future [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 0.63%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
0.80%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
Notional Amount 650,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
275,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
Open Equity (1,039,000)orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
(146,000)orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_ThirdYearExpirationMember
Year 2016 Expiration [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 1.54%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
1.90%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
Notional Amount 800,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
250,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
Open Equity 139,000orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
1,367,000orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
Year 2016 Expiration [Member] | Eurodollar Future [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 1.54%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
1.90%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
Notional Amount 800,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
250,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
Open Equity 139,000orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
1,367,000orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FourthYearExpirationMember
Year 2017 Expiration [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 2.23%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
3.03%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
Notional Amount 800,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
250,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
Open Equity (1,041,000)orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
2,291,000orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
Year 2017 Expiration [Member] | Eurodollar Future [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 2.23%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
3.03%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
Notional Amount 800,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
250,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
Open Equity (1,041,000)orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
2,291,000orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_FifthYearExpirationMember
Year 2018 Expiration [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 2.54%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
3.77%us-gaap_DerivativeAverageVariableInterestRate
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
Notional Amount 800,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
250,000,000invest_DerivativeNotionalAmount
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
Open Equity (2,361,000)orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
1,575,000orc_OpenEquity
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
Year 2018 Expiration [Member] | Eurodollar Future [Member]    
Derivatives, Fair Value [Line Items]    
Locked-In LIBOR Rate 2.54%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
3.77%us-gaap_DerivativeAverageVariableInterestRate
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
Notional Amount 800,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
250,000,000invest_DerivativeNotionalAmount
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
Open Equity $ (2,361,000)orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember
$ 1,575,000orc_OpenEquity
/ us-gaap_DerivativeInstrumentRiskAxis
= us-gaap_EurodollarFutureMember
/ orc_ExpirationYearsOfEurodollarFuturesContractsAxis
= orc_SixthYearExpirationMember