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Flying
As long as you control a transformed permanent, Oculus Whelp has "When Oculus Whelp dies, draw a card."
A “transformed permanent” is a double-faced permanent with its back face up. Notably, modal double-faced permanents and melded permanents are never transformed permanents, no matter which faces are up.
If Oculus Whelp dies at the same time as your transformed permanents, its ability will trigger, and you’ll draw a card. (This wouldn’t be true if the ability were worded differently, in case you were wondering.)
