A fried owl is similar to a night owl, but taken 1 step further. Someone may be tired from late night work, partying, or even skating with the homies.
“Owl” symbolizes “hooters” aka “boobs” “Owl Watching” means staring at some chicks knockers.
Ricky: dude did you see that tits on that chick?
Jayme: yeah they had me owl watching for days.