Eaton Vance Tax-Managed Buy-Write Opportunities Fund

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

811-21735

Investment Company Act File Number

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number, Including Area Code)

December 31

Date of Fiscal Year End

March 31, 2016

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Buy-Write Opportunities Fund

March 31, 2016

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 101.9%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 2.1%

      

Boeing Co. (The)

      17,122       $ 2,173,467   

Honeywell International, Inc.

      64,422         7,218,485   

Northrop Grumman Corp.

      25,030         4,953,437   

Rockwell Collins, Inc.

      42,746         3,941,608   

Textron, Inc.

      15,478         564,328   
     

 

 

  
      $ 18,851,325   
     

 

 

  

Air Freight & Logistics — 0.2%

      

C.H. Robinson Worldwide, Inc.

      14,000       $ 1,039,220   

Expeditors International of Washington, Inc.

      10,409         508,063   
     

 

 

  
      $ 1,547,283   
     

 

 

  

Airlines — 0.5%

      

Delta Air Lines, Inc.

      20,000       $ 973,600   

Southwest Airlines Co.

      52,956         2,372,429   

United Continental Holdings, Inc.(1)

      20,000         1,197,200   
     

 

 

  
      $ 4,543,229   
     

 

 

  

Auto Components — 0.5%

      

Dana Holding Corp.

      57,289       $ 807,202   

Goodyear Tire & Rubber Co. (The)

      19,777         652,246   

Johnson Controls, Inc.

      69,723         2,717,105   
     

 

 

  
      $ 4,176,553   
     

 

 

  

Automobiles — 0.1%

      

Ford Motor Co.

      41,101       $ 554,864   
     

 

 

  
      $ 554,864   
     

 

 

  

Banks — 3.3%

      

Bank of America Corp.

      165,000       $ 2,230,800   

Fifth Third Bancorp

      100,126         1,671,103   

Huntington Bancshares, Inc.

      179,679         1,714,138   

JPMorgan Chase & Co.

      132,867         7,868,384   

KeyCorp

      38,413         424,080   

M&T Bank Corp.

      7,453         827,283   

People’s United Financial, Inc.

      42,097         670,605   

Regions Financial Corp.

      643,924         5,054,803   

SunTrust Banks, Inc.

      49,905         1,800,572   

Wells Fargo & Co.

      131,947         6,380,957   

Zions Bancorporation

      37,204         900,709   
     

 

 

  
      $ 29,543,434   
     

 

 

  

Beverages — 1.6%

      

Coca-Cola Co. (The)

      153,082       $ 7,101,474   

Coca-Cola Enterprises, Inc.

      21,105         1,070,867   

PepsiCo, Inc.

      56,435         5,783,459   
     

 

 

  
      $ 13,955,800   
     

 

 

  

Biotechnology — 6.1%

      

AbbVie, Inc.

      6,412       $ 366,253   

Amgen, Inc.

      59,770         8,961,316   

Baxalta, Inc.

      36,730         1,483,892   

Biogen, Inc.(1)

      35,831         9,327,526   

BioMarin Pharmaceutical, Inc.(1)

      16,822         1,387,479   

Celgene Corp.(1)

      142,582         14,271,032   

Gilead Sciences, Inc.

      210,061         19,296,204   
     

 

 

  
      $ 55,093,702   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Building Products — 0.1%

      

Allegion PLC

      10,516       $ 669,974   
     

 

 

  
      $ 669,974   
     

 

 

  

Capital Markets — 1.4%

      

Franklin Resources, Inc.

      50,559       $ 1,974,329   

Goldman Sachs Group, Inc. (The)

      19,203         3,014,487   

Invesco, Ltd.

      78,614         2,418,953   

Morgan Stanley

      53,096         1,327,931   

State Street Corp.

      43,478         2,544,333   

T. Rowe Price Group, Inc.

      23,664         1,738,357   
     

 

 

  
      $ 13,018,390   
     

 

 

  

Chemicals — 1.5%

      

Air Products and Chemicals, Inc.

      13,083       $ 1,884,606   

Celanese Corp., Series A

      10,077         660,044   

E.I. du Pont de Nemours & Co.

      47,601         3,014,095   

PPG Industries, Inc.

      74,100         8,261,409   
     

 

 

  
      $ 13,820,154   
     

 

 

  

Commercial Services & Supplies — 0.1%

      

Waste Management, Inc.

      16,835       $ 993,265   
     

 

 

  
      $ 993,265   
     

 

 

  

Communications Equipment — 2.2%

      

Brocade Communications Systems, Inc.

      198,573       $ 2,100,902   

Cisco Systems, Inc.

      588,078         16,742,581   

Harris Corp.

      6,224         484,601   
     

 

 

  
      $ 19,328,084   
     

 

 

  

Consumer Finance — 1.0%

      

American Express Co.

      50,565       $ 3,104,691   

Capital One Financial Corp.

      10,757         745,568   

Discover Financial Services

      102,596         5,224,188   
     

 

 

  
      $ 9,074,447   
     

 

 

  

Containers & Packaging — 0.2%

      

WestRock Co.

      44,349       $ 1,730,941   
     

 

 

  
      $ 1,730,941   
     

 

 

  

Distributors — 0.2%

      

Genuine Parts Co.

      19,047       $ 1,892,510   
     

 

 

  
      $ 1,892,510   
     

 

 

  

Diversified Financial Services — 1.4%

      

Berkshire Hathaway, Inc., Class B(1)

      19,434       $ 2,757,296   

CME Group, Inc.

      12,294         1,180,839   

Intercontinental Exchange, Inc.

      2,500         587,850   

McGraw Hill Financial, Inc.

      37,507         3,712,443   

Moody’s Corp.

      45,252         4,369,533   
     

 

 

  
      $ 12,607,961   
     

 

 

  

Diversified Telecommunication Services — 1.5%

      

AT&T, Inc.

      132,541       $ 5,191,631   

CenturyLink, Inc.

      18,430         589,023   

Verizon Communications, Inc.

      145,422         7,864,422   
     

 

 

  
      $ 13,645,076   
     

 

 

  

Electric Utilities — 0.7%

      

American Electric Power Co., Inc.

      16,075       $ 1,067,380   

Edison International

      62,309         4,479,394   

NextEra Energy, Inc.

      10,000         1,183,400   
     

 

 

  
      $ 6,730,174   
     

 

 

  

Electronic Equipment, Instruments & Components — 0.0%(2)

      

Knowles Corp.(1)

      16,848       $ 222,057   
     

 

 

  
      $ 222,057   
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Energy Equipment & Services — 0.5%

      

Halliburton Co.

      98,584       $ 3,521,420   

Schlumberger, Ltd.

      19,652         1,449,335   
     

 

 

  
      $ 4,970,755   
     

 

 

  

Food & Staples Retailing — 2.1%

      

CVS Health Corp.

      88,422       $ 9,172,014   

Kroger Co. (The)

      75,174         2,875,406   

Walgreens Boots Alliance, Inc.

      81,602         6,874,152   
     

 

 

  
      $ 18,921,572   
     

 

 

  

Food Products — 2.2%

      

ConAgra Foods, Inc.

      48,260       $ 2,153,361   

Hershey Co. (The)

      11,826         1,089,056   

Hormel Foods Corp.

      21,160         914,959   

Kraft Heinz Co. (The)

      91,520         7,189,811   

Mondelez International, Inc., Class A

      213,793         8,577,375   
     

 

 

  
      $ 19,924,562   
     

 

 

  

Health Care Equipment & Supplies — 2.2%

      

Abbott Laboratories

      91,000       $ 3,806,530   

Baxter International, Inc.

      46,730         1,919,668   

Edwards Lifesciences Corp.(1)

      22,126         1,951,734   

Intuitive Surgical, Inc.(1)

      12,611         7,579,842   

Medtronic PLC

      5,903         442,725   

Stryker Corp.

      33,820         3,628,548   
     

 

 

  
      $ 19,329,047   
     

 

 

  

Health Care Providers & Services — 1.8%

      

Cigna Corp.

      36,534       $ 5,013,926   

DaVita HealthCare Partners, Inc.(1)

      14,550         1,067,679   

LifePoint Hospitals, Inc.(1)

      29,979         2,076,046   

McKesson Corp.

      7,813         1,228,594   

Patterson Cos., Inc.

      14,063         654,351   

UnitedHealth Group, Inc.

      46,743         6,025,173   
     

 

 

  
      $ 16,065,769   
     

 

 

  

Hotels, Restaurants & Leisure — 2.1%

      

Marriott International, Inc., Class A

      90,168       $ 6,418,158   

McDonald’s Corp.

      35,561         4,469,306   

Starwood Hotels & Resorts Worldwide, Inc.

      23,177         1,933,657   

Yum! Brands, Inc.

      72,349         5,921,766   
     

 

 

  
      $ 18,742,887   
     

 

 

  

Household Durables — 0.2%

      

Whirlpool Corp.

      8,566       $ 1,544,792   
     

 

 

  
      $ 1,544,792   
     

 

 

  

Household Products — 1.0%

      

Clorox Co. (The)

      39,829       $ 5,020,844   

Colgate-Palmolive Co.

      31,592         2,231,975   

Procter & Gamble Co. (The)

      22,314         1,836,665   
     

 

 

  
      $ 9,089,484   
     

 

 

  

Industrial Conglomerates — 1.1%

      

3M Co.

      11,474       $ 1,911,913   

General Electric Co.

      241,040         7,662,661   
     

 

 

  
      $ 9,574,574   
     

 

 

  

Insurance — 1.6%

      

Aflac, Inc.

      17,703       $ 1,117,767   

Aon PLC

      4,957         517,759   

Chubb, Ltd.

      35,393         4,217,076   

Marsh & McLennan Cos., Inc.

      15,767         958,476   

Travelers Cos., Inc. (The)

      43,848         5,117,500   

Unum Group

      70,698         2,185,982   
     

 

 

  
      $ 14,114,560   
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Internet & Catalog Retail — 4.4%

      

Amazon.com, Inc.(1)

      58,482       $ 34,717,255   

Liberty Ventures, Series A(1)

      19,075         746,214   

Netflix, Inc.(1)

      39,110         3,998,215   
     

 

 

  
      $ 39,461,684   
     

 

 

  

Internet Software & Services — 10.4%

      

Alphabet, Inc., Class A(1)

      39,742       $ 30,319,172   

Alphabet, Inc., Class C(1)

      34,600         25,775,270   

eBay, Inc.(1)

      129,341         3,086,076   

Facebook, Inc., Class A(1)

      236,480         26,982,368   

VeriSign, Inc.(1)

      79,048         6,998,910   
     

 

 

  
      $ 93,161,796   
     

 

 

  

IT Services — 3.0%

      

Alliance Data Systems Corp.(1)

      7,945       $ 1,747,900   

Cognizant Technology Solutions Corp., Class A(1)

      143,537         8,999,770   

Fidelity National Information Services, Inc.

      69,262         4,384,977   

International Business Machines Corp.

      21,832         3,306,457   

MasterCard, Inc., Class A

      38,080         3,598,560   

Visa, Inc., Class A

      63,696         4,871,470   
     

 

 

  
      $ 26,909,134   
     

 

 

  

Life Sciences Tools & Services — 0.1%

      

PerkinElmer, Inc.

      23,065       $ 1,140,795   
     

 

 

  
      $ 1,140,795   
     

 

 

  

Machinery — 1.3%

      

Caterpillar, Inc.

      11,120       $ 851,125   

Dover Corp.

      32,893         2,116,007   

Ingersoll-Rand PLC

      31,550         1,956,415   

Parker-Hannifin Corp.

      16,214         1,801,051   

Stanley Black & Decker, Inc.

      51,390         5,406,742   
     

 

 

  
      $ 12,131,340   
     

 

 

  

Marine — 0.1%

      

Kirby Corp.(1)

      7,666       $ 462,183   
     

 

 

  
      $ 462,183   
     

 

 

  

Media — 4.9%

      

Cablevision Systems Corp.

      24,042       $ 793,386   

CBS Corp., Class B

      88,076         4,852,107   

Comcast Corp., Class A

      368,923         22,533,817   

Liberty Global PLC, LiLAC Class C(1)

      15,164         574,412   

Liberty Media Corp., Series A(1)

      80,893         3,124,896   

Walt Disney Co. (The)

      121,119         12,028,328   
     

 

 

  
      $ 43,906,946   
     

 

 

  

Metals & Mining — 0.2%

      

Newmont Mining Corp.

      25,563       $ 679,465   

Nucor Corp.

      23,005         1,088,136   
     

 

 

  
      $ 1,767,601   
     

 

 

  

Multi-Utilities — 1.0%

      

CMS Energy Corp.

      192,280       $ 8,160,363   

Public Service Enterprise Group, Inc.

      11,756         554,178   
     

 

 

  
      $ 8,714,541   
     

 

 

  

Multiline Retail — 1.1%

      

Macy’s, Inc.

      81,687       $ 3,601,580   

Nordstrom, Inc.

      28,152         1,610,576   

Target Corp.

      54,516         4,485,576   
     

 

 

  
      $ 9,697,732   
     

 

 

  

Oil, Gas & Consumable Fuels — 3.4%

      

Apache Corp.

      15,000       $ 732,150   

California Resources Corp.

      2,280         2,349   

 

4

 

 

                                                 
Security    Shares      Value  

Chevron Corp.

      66,225       $ 6,317,865   

EOG Resources, Inc.

      32,900         2,387,882   

Exxon Mobil Corp.

      119,578         9,995,525   

Kinder Morgan, Inc.

      41,766         745,941   

Murphy Oil Corp.

      91,974         2,316,825   

Occidental Petroleum Corp.

      24,358         1,666,818   

Phillips 66

      57,101         4,944,375   

Pioneer Natural Resources Co.

      5,000         703,700   

Williams Cos., Inc. (The)

      48,359         777,129   
     

 

 

  
      $ 30,590,559   
     

 

 

  

Personal Products — 0.8%

      

Estee Lauder Cos., Inc. (The), Class A

      72,774       $ 6,863,316   
     

 

 

  
      $ 6,863,316   
     

 

 

  

Pharmaceuticals — 3.5%

      

Allergan PLC(1)

      7,086       $ 1,899,261   

Bristol-Myers Squibb Co.

      106,404         6,797,088   

Eli Lilly & Co.

      12,046         867,432   

Johnson & Johnson

      51,777         5,602,271   

Mallinckrodt PLC(1)

      3,225         197,628   

Merck & Co., Inc.

      158,250         8,373,007   

Pfizer, Inc.

      272,284         8,070,498   
     

 

 

  
      $ 31,807,185   
     

 

 

  

Professional Services — 0.5%

      

Equifax, Inc.

      15,738       $ 1,798,696   

Nielsen Holdings PLC

      8,843         465,673   

Robert Half International, Inc.

      51,102         2,380,331   
     

 

 

  
      $ 4,644,700   
     

 

 

  

Real Estate Investment Trusts (REITs) — 1.3%

      

American Tower Corp.

      17,730       $ 1,815,020   

Apartment Investment & Management Co., Class A

      35,696         1,492,807   

Simon Property Group, Inc.

      38,580         8,012,680   
     

 

 

  
      $ 11,320,507   
     

 

 

  

Real Estate Management & Development — 0.1%

      

CBRE Group, Inc., Class A(1)

      24,669       $ 710,961   
     

 

 

  
      $ 710,961   
     

 

 

  

Road & Rail — 0.6%

      

J.B. Hunt Transport Services, Inc.

      7,328       $ 617,311   

Kansas City Southern

      4,645         396,915   

Norfolk Southern Corp.

      10,785         897,851   

Ryder System, Inc.

      12,392         802,754   

Union Pacific Corp.

      37,756         3,003,490   
     

 

 

  
      $ 5,718,321   
     

 

 

  

Semiconductors & Semiconductor Equipment — 5.8%

      

Analog Devices, Inc.

      56,522       $ 3,345,537   

ASML Holding NV - NY Shares

      16,394         1,645,794   

Cypress Semiconductor Corp.

      48,941         423,829   

Intel Corp.

      435,468         14,087,390   

Microchip Technology, Inc.

      30,000         1,446,000   

NXP Semiconductors NV(1)

      55,530         4,501,817   

ON Semiconductor Corp.(1)

      149,333         1,432,103   

Qorvo, Inc.(1)

      11,712         590,402   

QUALCOMM, Inc.

      243,978         12,477,035   

Tessera Technologies, Inc.

      28,424         881,144   

Texas Instruments, Inc.

      199,048         11,429,336   
     

 

 

  
      $ 52,260,387   
     

 

 

  

Software — 7.7%

      

Microsoft Corp.

      946,851       $ 52,294,581   

Oracle Corp.

      259,569         10,618,968   

 

5

 

 

                                                 
Security    Shares      Value  

Red Hat, Inc.(1)

      28,914       $ 2,154,382   

salesforce.com, inc.(1)

      59,693         4,407,134   
     

 

 

  
      $ 69,475,065   
     

 

 

  

Specialty Retail — 1.8%

      

Advance Auto Parts, Inc.

      26,636       $ 4,270,816   

Best Buy Co., Inc.

      28,506         924,735   

Gap, Inc. (The)

      35,268         1,036,879   

Home Depot, Inc. (The)

      58,008         7,740,008   

Tiffany & Co.

      28,579         2,097,127   
     

 

 

  
      $ 16,069,565   
     

 

 

  

Technology Hardware, Storage & Peripherals — 7.7%

      

Apple, Inc.

      631,827       $ 68,862,825   

Hewlett Packard Enterprise Co.

      10,000         177,300   
     

 

 

  
      $ 69,040,125   
     

 

 

  

Textiles, Apparel & Luxury Goods — 1.1%

      

Michael Kors Holdings, Ltd.(1)

      10,972       $ 624,965   

NIKE, Inc., Class B

      147,264         9,052,318   
     

 

 

  
      $ 9,677,283   
     

 

 

  

Tobacco — 1.2%

      

Altria Group, Inc.

      27,194       $ 1,703,976   

Philip Morris International, Inc.

      87,820         8,616,020   

Reynolds American, Inc.

      10,436         525,035   
     

 

 

  
      $ 10,845,031   
     

 

 

  

Trading Companies & Distributors — 0.4%

      

Fastenal Co.

      79,244       $ 3,882,956   
     

 

 

  
      $ 3,882,956   
     

 

 

  

Total Common Stocks — 101.9%
(identified cost $344,674,776)

       $ 914,536,938   
     

 

 

  

Call Options Written — (2.0)%

      

 

                                                                                                   
Description    Number of
Contracts		      Strike
Price		      Expiration
Date		      Value  

NASDAQ 100 Index

      250       $ 4,375         4/1/16       $ (2,763,750 ) 

NASDAQ 100 Index

      170         4,375         4/8/16         (1,980,500 ) 

NASDAQ 100 Index

      205         4,425         4/15/16         (1,787,600 ) 

NASDAQ 100 Index

      140         4,425         4/22/16         (1,407,000 ) 

S&P 500 Index

      765         2,010         4/1/16         (3,805,875 ) 

S&P 500 Index

      495         2,025         4/8/16         (1,873,575 ) 

S&P 500 Index

      715         2,040         4/15/16         (2,162,875 ) 

S&P 500 Index

      620         2,040         4/22/16         (2,176,200 ) 
           

 

 

  

Total Call Options Written
(premiums received $11,678,612)

   

       $ (17,957,375 ) 
     

 

 

  

Other Assets, Less Liabilities — 0.1%

  

       $ 649,606   
     

 

 

  

Net Assets — 100.0%

  

       $ 897,229,169   
     

 

 

  

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

 

(1) Non-income producing security.

 

(2) Amount is less than 0.05%.

 

6

 

 

Written options activity for the fiscal year to date ended March 31, 2016 was as follows:

 

     Number of
Contracts		      Premiums
Received		  
Outstanding, beginning of period      3,360       $ 9,002,545   
Options written      10,030         34,194,862   
Options terminated in closing purchase transactions      (3,345 )       (9,362,909 ) 
Options exercised      (575 )       (3,707,350 ) 
Options expired      (6,110 )       (18,448,536 ) 
  

 

 

     

 

 

  
Outstanding, end of period      3,360       $     11,678,612   
  

 

 

     

 

 

  

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At March 31, 2016, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.

The Fund is subject to equity price risk in the normal course of pursuing its investment objectives. The Fund writes index call options above the current value of the index to generate premium income. In writing index call options, the Fund in effect, sells potential appreciation in the value of the applicable index above the exercise price in exchange for the option premium received. The Fund retains the risk of loss, minus the premium received, should the price of the underlying index decline.

At March 31, 2016, the aggregate fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in a liability position and whose primary underlying risk exposure is equity price risk was $17,957,375.

The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2016, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $ 344,509,463   
  

 

 

  

Gross unrealized appreciation

    $ 570,391,084   

Gross unrealized depreciation

      (363,609 ) 
  

 

 

  

Net unrealized appreciation

    $     570,027,475   
  

 

 

  

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

 

•  

Level 1 — quoted prices in active markets for identical investments

 

•  

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

•  

Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At March 31, 2016, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:

 

Asset Description    Level 1      Level 2      Level 3      Total  

Common Stocks

    $ 914,536,938 *     $ —       $ —       $ 914,536,938   

Total Investments

    $     914,536,938       $ —       $ —       $     914,536,938   
Liability Description                                

Call Options Written

    $ (17,957,375 )     $ —       $ —       $ (17,957,375 ) 

Total

    $ (17,957,375 )     $ —       $ —       $ (17,957,375 ) 

 

* The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

The Fund held no investments or other financial instruments as of December 31, 2015 whose fair value was determined using Level 3 inputs. At March 31, 2016, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

 

7

 

 

Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

 

By:   /s/ Michael A. Allison
  Michael A. Allison
  President
Date:   May 23, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:   /s/ Michael A. Allison
  Michael A. Allison
  President
Date:   May 23, 2016

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   May 23, 2016