Feasibility of speckle tracking in optical coherence tomography (OCT) based on digital image correlation (DIC) is discussed in the context of elastography problems. Specifics of applying DIC methods to OCT, compared to processing of photographic images in mechanical engineering applications, are emphasized and main complications are pointed out. Analytical arguments are augmented by accurate numerical simulations of OCT speckle patterns. In contrast to DIC processing for displacement and strain estimation in photographic images, the accuracy of correlational speckle tracking in deformed OCT images is strongly affected by the coherent nature of speckles, for which strain-induced complications of speckle “blinking” and “boiling” are typical. The tracking accuracy is further compromised by the usually more pronounced pixelated structure of OCT scans compared with digital photographic images in classical DIC applications. Processing of complex-valued OCT data (comprising both amplitude and phase) compared to intensity-only scans mitigates these deleterious effects to some degree. Criteria of the attainable speckle tracking accuracy and its dependence on the key OCT system parameters are established.