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

September 30, 2014

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Buy-Write Opportunities Fund

September 30, 2014

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.0%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 2.1%

      

Boeing Co. (The)

      26,140       $ 3,329,713   

Honeywell International, Inc.

      77,664         7,232,072   

Northrop Grumman Corp.

      39,599         5,217,564   

Rockwell Collins, Inc.

      45,000         3,532,500   

Textron, Inc.

      15,478         557,053   
     

 

 

  
   $ 19,868,902   
     

 

 

  

Airlines — 0.2%

      

Southwest Airlines Co.

      52,956       $ 1,788,324   
     

 

 

  
   $ 1,788,324   
     

 

 

  

Auto Components — 0.5%

      

Dana Holding Corp.

      77,289       $ 1,481,630   

Goodyear Tire & Rubber Co. (The)

      19,777         446,664   

Johnson Controls, Inc.

      71,926         3,164,744   
     

 

 

  
   $ 5,093,038   
     

 

 

  

Automobiles — 0.5%

      

Ford Motor Co.

      41,101       $ 607,884   

General Motors Co.

      20,000         638,800   

Tesla Motors, Inc.(1)

      13,266         3,219,393   
     

 

 

  
   $ 4,466,077   
     

 

 

  

Banks — 3.7%

      

Bank of America Corp.

      191,986       $ 3,273,361   

BankUnited, Inc.

      21,449         653,980   

Citigroup, Inc.

      30,000         1,554,600   

Fifth Third Bancorp

      100,126         2,004,523   

First Republic Bank

      21,771         1,075,052   

Huntington Bancshares, Inc.

      179,679         1,748,277   

JPMorgan Chase & Co.

      132,867         8,003,908   

KeyCorp

      38,413         512,045   

Regions Financial Corp.

      643,924         6,464,997   

SunTrust Banks, Inc.

      49,905         1,897,887   

Wells Fargo & Co.

      158,452         8,218,905   
     

 

 

  
   $ 35,407,535   
     

 

 

  

Beverages — 1.4%

      

Coca-Cola Co. (The)

      153,082       $ 6,530,478   

Coca-Cola Enterprises, Inc.

      21,105         936,218   

PepsiCo, Inc.

      60,609         5,642,092   
     

 

 

  
   $ 13,108,788   
     

 

 

  

Biotechnology — 6.7%

      

Amgen, Inc.

      61,770       $ 8,676,214   

Biogen Idec, Inc.(1)

      35,831         11,853,253   

BioMarin Pharmaceutical, Inc.(1)

      23,822         1,718,996   

Celgene Corp.(1)

      164,526         15,593,774   

Gilead Sciences, Inc.(1)

      241,936         25,754,087   
     

 

 

  
   $ 63,596,324   
     

 

 

  

Building Products — 0.1%

      

Allegion PLC

      10,516       $ 500,982   
     

 

 

  
   $ 500,982   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Capital Markets — 1.8%

      

E*TRADE Financial Corp.(1)

      20,741       $ 468,539   

Franklin Resources, Inc.

      50,559         2,761,027   

Goldman Sachs Group, Inc. (The)

      19,203         3,525,095   

Invesco, Ltd.

      78,614         3,103,681   

Morgan Stanley

      53,096         1,835,529   

State Street Corp.

      43,478         3,200,415   

T. Rowe Price Group, Inc.

      23,664         1,855,258   
     

 

 

  
   $ 16,749,544   
     

 

 

  

Chemicals — 1.5%

      

Air Products and Chemicals, Inc.

      13,083       $ 1,703,145   

Celanese Corp., Series A

      10,077         589,706   

E.I. du Pont de Nemours & Co.

      63,024         4,522,602   

PPG Industries, Inc.

      39,275         7,726,964   
     

 

 

  
   $ 14,542,417   
     

 

 

  

Commercial Services & Supplies — 0.1%

      

Waste Management, Inc.

      16,835       $ 800,168   
     

 

 

  
   $ 800,168   
     

 

 

  

Communications Equipment — 4.2%

      

Brocade Communications Systems, Inc.

      321,783       $ 3,497,781   

Cisco Systems, Inc.

      702,082         17,671,404   

Harris Corp.

      6,224         413,274   

QUALCOMM, Inc.

      245,362         18,345,717   

Riverbed Technology, Inc.(1)

      26,232         486,472   
     

 

 

  
   $ 40,414,648   
     

 

 

  

Consumer Finance — 1.4%

      

American Express Co.

      52,940       $ 4,634,368   

Capital One Financial Corp.

      10,757         877,986   

Discover Financial Services

      116,006         7,469,626   
     

 

 

  
   $ 12,981,980   
     

 

 

  

Containers & Packaging — 0.4%

      

Avery Dennison Corp.

      31,661       $ 1,413,664   

MeadWestvaco Corp.

      56,858         2,327,766   
     

 

 

  
   $ 3,741,430   
     

 

 

  

Distributors — 0.2%

  

Genuine Parts Co.

      19,047       $ 1,670,612   
     

 

 

  
   $ 1,670,612   
     

 

 

  

Diversified Financial Services — 1.2%

      

Berkshire Hathaway, Inc., Class B(1)

      19,434       $ 2,684,613   

CME Group, Inc.

      12,294         982,967   

McGraw Hill Financial, Inc.

      45,235         3,820,095   

Moody’s Corp.

      45,252         4,276,314   
     

 

 

  
   $ 11,763,989   
     

 

 

  

Diversified Telecommunication Services — 1.6%

      

AT&T, Inc.

      166,227       $ 5,857,839   

Frontier Communications Corp.

      154,158         1,003,569   

Verizon Communications, Inc.

      145,422         7,269,646   

Windstream Holdings, Inc.

      131,062         1,412,848   
     

 

 

  
   $ 15,543,902   
     

 

 

  

Electric Utilities — 0.5%

      

American Electric Power Co., Inc.

      16,075       $ 839,276   

Edison International

      62,309         3,484,319   
     

 

 

  
   $ 4,323,595   
     

 

 

  

Electrical Equipment — 0.5%

      

Emerson Electric Co.

      78,984       $ 4,942,819   
     

 

 

  
   $ 4,942,819   
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

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

      

Knowles Corp.(1)

      16,848       $ 446,472   
     

 

 

  
   $ 446,472   
     

 

 

  

Energy Equipment & Services — 1.4%

      

Halliburton Co.

      104,167       $ 6,719,813   

Schlumberger, Ltd.

      62,574         6,363,150   
     

 

 

  
   $ 13,082,963   
     

 

 

  

Food & Staples Retailing — 0.9%

      

CVS Health Corp.

      88,422       $ 7,037,507   

Kroger Co. (The)

      37,587         1,954,524   
     

 

 

  
   $ 8,992,031   
     

 

 

  

Food Products — 1.7%

      

ConAgra Foods, Inc.

      48,260       $ 1,594,511   

Hershey Co. (The)

      17,810         1,699,608   

Hormel Foods Corp.

      10,580         543,706   

Kraft Foods Group, Inc.

      49,708         2,803,531   

Mondelez International, Inc., Class A

      265,000         9,080,225   
     

 

 

  
   $ 15,721,581   
     

 

 

  

Health Care Equipment & Supplies — 2.0%

  

Abbott Laboratories

      91,000       $ 3,784,690   

Baxter International, Inc.

      46,730         3,353,812   

Covidien PLC

      25,801         2,232,045   

Edwards Lifesciences Corp.(1)

      11,063         1,130,085   

Intuitive Surgical, Inc.(1)

      12,611         5,824,012   

Stryker Corp.

      33,820         2,730,965   
     

 

 

  
   $ 19,055,609   
     

 

 

  

Health Care Providers & Services — 1.5%

      

Cigna Corp.

      36,534       $ 3,313,268   

DaVita HealthCare Partners, Inc.(1)

      14,550         1,064,187   

Express Scripts Holding Co.(1)

      25,350         1,790,471   

LifePoint Hospitals, Inc.(1)

      36,055         2,494,645   

McKesson Corp.

      7,813         1,520,957   

UnitedHealth Group, Inc.

      46,743         4,031,584   
     

 

 

  
   $ 14,215,112   
     

 

 

  

Hotels, Restaurants & Leisure — 2.3%

      

International Game Technology

      56,626       $ 955,281   

Marriott International, Inc., Class A

      92,128         6,439,747   

Marriott Vacations Worldwide Corp.(1)

      10,303         653,313   

McDonald’s Corp.

      63,685         6,037,975   

Starwood Hotels & Resorts Worldwide, Inc.

      35,552         2,958,282   

Yum! Brands, Inc.

      72,349         5,207,681   
     

 

 

  
   $ 22,252,279   
     

 

 

  

Household Durables — 0.4%

      

Whirlpool Corp.

      25,869       $ 3,767,820   
     

 

 

  
   $ 3,767,820   
     

 

 

  

Household Products — 0.9%

      

Clorox Co. (The)

      39,829       $ 3,825,177   

Colgate-Palmolive Co.

      31,592         2,060,430   

Procter & Gamble Co. (The)

      29,064         2,433,820   
     

 

 

  
   $ 8,319,427   
     

 

 

  

Independent Power and Renewable Electricity Producers — 0.2%

      

AES Corp. (The)

      103,235       $ 1,463,872   
     

 

 

  
   $ 1,463,872   
     

 

 

  

Industrial Conglomerates — 0.9%

      

3M Co.

      11,474       $ 1,625,637   

General Electric Co.

      280,568         7,188,152   
     

 

 

  
   $ 8,813,789   
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Insurance — 1.4%

      

ACE, Ltd.

      35,393       $ 3,711,664   

Aflac, Inc.

      17,703         1,031,200   

Aon PLC

      4,957         434,580   

Genworth Financial, Inc., Class A(1)

      74,552         976,631   

Marsh & McLennan Cos., Inc.

      15,767         825,245   

Travelers Companies, Inc. (The)

      43,848         4,119,081   

Unum Group

      70,698         2,430,597   
     

 

 

  
   $ 13,528,998   
     

 

 

  

Internet & Catalog Retail — 2.7%

      

Amazon.com, Inc.(1)

      69,040       $ 22,261,257   

Netflix, Inc.(1)

      5,000         2,255,900   

Shutterfly, Inc.(1)

      27,478         1,339,278   
     

 

 

  
   $ 25,856,435   
     

 

 

  

Internet Software & Services — 8.6%

      

eBay, Inc.(1)

      196,332       $ 11,118,281   

Facebook, Inc., Class A(1)

      224,414         17,737,682   

Google, Inc., Class A(1)

      40,934         24,085,975   

Google, Inc., Class C(1)

      39,492         22,801,101   

LinkedIn Corp., Class A(1)

      4,433         921,133   

VeriSign, Inc.(1)

      94,613         5,215,069   
     

 

 

  
   $ 81,879,241   
     

 

 

  

IT Services — 2.5%

      

Alliance Data Systems Corp.(1)

      7,945       $ 1,972,505   

Cognizant Technology Solutions Corp., Class A(1)

      160,475         7,184,466   

Fidelity National Information Services, Inc.

      79,262         4,462,451   

International Business Machines Corp.

      21,832         4,144,368   

MasterCard, Inc., Class A

      38,080         2,814,874   

Visa, Inc., Class A

      15,924         3,397,704   
     

 

 

  
   $ 23,976,368   
     

 

 

  

Life Sciences Tools & Services — 0.2%

      

Bruker Corp.(1)

      57,399       $ 1,062,743   

PerkinElmer, Inc.

      23,065         1,005,634   
     

 

 

  
   $ 2,068,377   
     

 

 

  

Machinery — 1.5%

      

Caterpillar, Inc.

      27,518       $ 2,725,108   

Dover Corp.

      40,339         3,240,432   

Ingersoll-Rand PLC

      31,550         1,778,158   

Parker Hannifin Corp.

      16,981         1,938,381   

Stanley Black & Decker, Inc.

      51,390         4,562,918   
     

 

 

  
   $ 14,244,997   
     

 

 

  

Marine — 0.2%

      

Kirby Corp.(1)

      17,666       $ 2,081,938   
     

 

 

  
   $ 2,081,938   
     

 

 

  

Media — 4.3%

      

CBS Corp., Class B

      90,566       $ 4,845,281   

Comcast Corp., Class A

      400,923         21,561,639   

Lions Gate Entertainment Corp.

      23,797         784,587   

Omnicom Group, Inc.

      7,983         549,709   

Time Warner, Inc.

      17,000         1,278,570   

Time, Inc.(1)

      2,125         49,789   

Walt Disney Co. (The)

      137,164         12,211,711   
     

 

 

  
   $ 41,281,286   
     

 

 

  

Metals & Mining — 0.2%

      

Freeport-McMoRan, Inc.

      15,665       $ 511,462   

Newmont Mining Corp.

      20,961         483,151   

Nucor Corp.

      23,005         1,248,712   
     

 

 

  
   $ 2,243,325   
     

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Multi-Utilities — 0.8%

      

CMS Energy Corp.

      217,119       $ 6,439,750   

Public Service Enterprise Group, Inc.

      43,527         1,620,945   
     

 

 

  
   $ 8,060,695   
     

 

 

  

Multiline Retail — 1.2%

      

Macy’s, Inc.

      106,841       $ 6,216,010   

Nordstrom, Inc.

      28,152         1,924,752   

Target Corp.

      59,516         3,730,463   
     

 

 

  
   $ 11,871,225   
     

 

 

  

Oil, Gas & Consumable Fuels — 4.7%

      

Chevron Corp.

      66,225       $ 7,901,967   

ConocoPhillips

      97,295         7,445,013   

EOG Resources, Inc.

      32,900         3,257,758   

Exxon Mobil Corp.

      119,578         11,246,311   

Hess Corp.

      28,844         2,720,566   

Occidental Petroleum Corp.

      34,959         3,361,308   

Phillips 66

      57,101         4,642,882   

Spectra Energy Corp.

      16,118         632,793   

Williams Cos., Inc.

      48,359         2,676,671   

WPX Energy, Inc.(1)

      41,343         994,712   
     

 

 

  
   $ 44,879,981   
     

 

 

  

Personal Products — 0.6%

      

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

      77,774       $ 5,811,273   
     

 

 

  
   $ 5,811,273   
     

 

 

  

Pharmaceuticals — 3.4%

      

AbbVie, Inc.

      6,412       $ 370,357   

Bristol-Myers Squibb Co.

      119,738         6,128,191   

Eli Lilly & Co.

      12,046         781,183   

Johnson & Johnson

      51,777         5,518,910   

Mallinckrodt PLC(1)

      3,225         290,734   

Merck & Co., Inc.

      158,250         9,381,060   

Pfizer, Inc.

      334,447         9,889,598   
     

 

 

  
   $ 32,360,033   
     

 

 

  

Professional Services — 0.5%

  

Equifax, Inc.

      15,738       $ 1,176,258   

Nielsen NV

      16,843         746,650   

Robert Half International, Inc.

      59,102         2,895,998   
     

 

 

  
   $ 4,818,906   
     

 

 

  

Real Estate Investment Trusts (REITs) — 1.1%

      

American Tower Corp.

      17,730       $ 1,660,060   

Apartment Investment & Management Co., Class A

      35,696         1,135,847   

Host Hotels & Resorts, Inc.

      28,981         618,165   

Simon Property Group, Inc.

      38,580         6,343,323   

Washington Prime Group, Inc.

      19,290         337,189   
     

 

 

  
   $ 10,094,584   
     

 

 

  

Real Estate Management & Development — 0.1%

      

CBRE Group, Inc., Class A(1)

      24,669       $ 733,656   
     

 

 

  
   $ 733,656   
     

 

 

  

Road & Rail — 0.9%

      

CSX Corp.

      34,587       $ 1,108,859   

Kansas City Southern

      4,645         562,974   

Norfolk Southern Corp.

      10,785         1,203,606   

Ryder System, Inc.

      12,392         1,114,908   

Union Pacific Corp.

      37,756         4,093,506   
     

 

 

  
   $ 8,083,853   
     

 

 

  

 

5

 

 

                                                 
Security    Shares      Value  

Semiconductors & Semiconductor Equipment — 5.3%

      

Analog Devices, Inc.

      56,522       $ 2,797,274   

ASML Holding NV - NY Shares

      26,394         2,608,255   

Cypress Semiconductor Corp.(1)

      245,589         2,425,191   

Intel Corp.

      750,054         26,116,880   

Microchip Technology, Inc.

      30,000         1,416,900   

NXP Semiconductors NV(1)

      42,233         2,890,004   

ON Semiconductor Corp.(1)

      149,333         1,335,037   

Tessera Technologies, Inc.

      50,120         1,332,190   

Texas Instruments, Inc.

      199,048         9,492,599   
     

 

 

  
   $ 50,414,330   
     

 

 

  

Software — 6.7%

      

Microsoft Corp.

      1,108,109       $ 51,371,933   

Oracle Corp.

      259,569         9,936,301   

Red Hat, Inc.(1)

      28,914         1,623,521   

TiVo, Inc.(1)

      42,923         549,200   
     

 

 

  
   $ 63,480,955   
     

 

 

  

Specialty Retail — 1.6%

      

Advance Auto Parts, Inc.

      28,636       $ 3,731,271   

Best Buy Co., Inc.

      28,506         957,516   

Gap, Inc. (The)

      35,268         1,470,323   

Home Depot, Inc. (The)

      58,008         5,321,654   

Tiffany & Co.

      39,926         3,845,273   
     

 

 

  
      $ 15,326,037   
     

 

 

  

Technology Hardware, Storage & Peripherals — 8.3%

      

Apple, Inc.

      782,760       $ 78,863,070   

Hewlett-Packard Co.

      10,000         354,700   
     

 

 

  
      $ 79,217,770   
     

 

 

  

Textiles, Apparel & Luxury Goods — 0.7%

      

NIKE, Inc., Class B

      73,632       $ 6,567,974   
     

 

 

  
      $ 6,567,974   
     

 

 

  

Thrifts & Mortgage Finance — 0.1%

      

Hudson City Bancorp, Inc.

      99,397       $ 966,139   
     

 

 

  
      $ 966,139   
     

 

 

  

Tobacco — 1.1%

      

Altria Group, Inc.

      27,194       $ 1,249,292   

Lorillard, Inc.

      17,939         1,074,726   

Philip Morris International, Inc.

      94,920         7,916,328   
     

 

 

  
      $ 10,240,346   
     

 

 

  

Trading Companies & Distributors — 0.4%

      

Fastenal Co.

      79,244       $ 3,558,056   
     

 

 

  
      $ 3,558,056   
     

 

 

  

Wireless Telecommunication Services — 0.1%

      

Rogers Communications, Inc., Class B

      14,940       $ 559,055   
     

 

 

  
      $ 559,055   
     

 

 

  

Total Common Stocks — 100.0%
(identified cost $388,040,558)

       $ 951,641,862   
     

 

 

  

 

6

 

 

                                                                                                   

Call Options Written — (0.3)%

            
Description    Number of
Contracts		      Strike
Price		      Expiration
Date		      Value  

NASDAQ 100 Index

      180       $ 4,105         10/3/14       $ (83,700 ) 

NASDAQ 100 Index

      225         4,150         10/10/14         (148,500 ) 

NASDAQ 100 Index

      295         4,125         10/18/14         (629,825 ) 

NASDAQ 100 Index

      185         4,080         10/24/14         (916,675 ) 

S&P 500 Index

      665         2,010         10/3/14         (21,613 ) 

S&P 500 Index

      650         2,015         10/10/14         (126,750 ) 

S&P 500 Index

      650         2,025         10/18/14         (154,375 ) 

S&P 500 Index

      755         2,000         10/24/14         (921,100 ) 
           

 

 

  

Total Call Options Written
(premiums received $6,382,107)

             $ (3,002,538 ) 
           

 

 

  

Other Assets, Less Liabilities — 0.3%

             $ 2,853,009   
           

 

 

  

Net Assets — 100.0%

             $ 951,492,333   
           

 

 

  

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%.

The cost and unrealized appreciation (depreciation) of investments of the Fund at September 30, 2014, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $ 387,943,320   
  

 

 

  

Gross unrealized appreciation

    $ 563,766,406   

Gross unrealized depreciation

      (67,864 ) 
  

 

 

  

Net unrealized appreciation

    $     563,698,542   
  

 

 

  

Written options activity for the fiscal year to date ended September 30, 2014 was as follows:

 

     Number of
Contracts		     Premiums
Received		  

Outstanding, beginning of period

      3,955      $ 8,060,086   

Options written

      36,790            71,967,029   

Options terminated in closing purchase transactions

      (26,045 )      (52,315,025 ) 

Options expired

      (11,095 )      (21,329,983 ) 
  

 

 

    

 

 

  

Outstanding, end of period

      3,605      $ 6,382,107   
  

 

 

    

 

 

  

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At September 30, 2014, the Fund had sufficient cash and/or securities to cover commitments under these 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 September 30, 2014, 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 $3,002,538.

 

7

 

 

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 September 30, 2014, 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

    $     951,641,862 *    $ —       $     —       $     951,641,862   

Total Investments

    $ 951,641,862      $ —       $ —       $ 951,641,862   
Liability Description                               

Call Options Written

    $ (3,002,538 )    $ —       $ —       $ (3,002,538 ) 

Total

    $ (3,002,538 )    $     —       $ —       $ (3,002,538 ) 

 

* 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, 2013 whose fair value was determined using Level 3 inputs. At September 30, 2014, 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.

 

8

 

 

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/ Walter A. Row, III
  Walter A. Row, III
  President
Date:   November 24, 2014

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/ Walter A. Row, III
  Walter A. Row, III
  President
Date:   November 24, 2014

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   November 24, 2014