Gravitational waves (GWs) are subject to gravitational lensing in the same way as electromagnetic radiation. However, to date, no unequivocal observation of a lensed GW transient has been reported. Independently, GW observatories continue to search for the stochastic GW signal which is produced by many transient events at high redshift. We exploit a surprising connection between the lensing of individual transients and limits to the background radiation produced by the unresolved population of binary back hole mergers: we show that it constrains the fraction of individually resolvable lensed binary black holes to less than $sim 4times 10^{-5}$ at present sensitivity. We clarify the interpretation of existing, low redshift GW observations (obtained assuming no lensing) in terms of their apparent lensed redshifts and masses and explore constraints from GW observatories at future sensitivity. Based on our results, recent claims of observations of lensed events are statistically disfavoured.
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