No, there is not. If it's a sticky situation because you're one of the top teams, that's one way we distribute the wealth...by forcing you to make a tough decision.
You do have 7 days from the call up to do something. As a result, you can try to trade or place on waivers. Maybe one of your regulars gets hurt. Remember after Sept 1, you only have to show that the player has a serious injury since teams are reluctant to DL with expanded rosters, to DL them for BBFL.