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, 2015

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Buy-Write Opportunities Fund

March 31, 2015

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.0%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 1.9%

      

Boeing Co. (The)

      17,122       $ 2,569,670   

Honeywell International, Inc.

      64,422         6,719,859   

Northrop Grumman Corp.

      25,030         4,028,829   

Rockwell Collins, Inc.

      42,746         4,127,126   

Textron, Inc.

      15,478         686,139   
     

 

 

  
      $ 18,131,623   
     

 

 

  

Air Freight & Logistics — 0.1%

      

C.H. Robinson Worldwide, Inc.

      17,000       $ 1,244,740   
     

 

 

  
      $ 1,244,740   
     

 

 

  

Airlines — 0.4%

      

Delta Air Lines, Inc.

      24,000       $ 1,079,040   

Southwest Airlines Co.

      52,956         2,345,951   
     

 

 

  
      $ 3,424,991   
     

 

 

  

Auto Components — 0.6%

      

Dana Holding Corp.

      77,289       $ 1,635,435   

Goodyear Tire & Rubber Co. (The)

      19,777         535,561   

Johnson Controls, Inc.

      69,723         3,516,828   
     

 

 

  
      $ 5,687,824   
     

 

 

  

Automobiles — 0.3%

      

Ford Motor Co.

      41,101       $ 663,370   

General Motors Co.

      20,000         750,000   

Tesla Motors, Inc.(1)

      9,266         1,749,143   
     

 

 

  
      $ 3,162,513   
     

 

 

  

Banks — 3.5%

      

Bank of America Corp.

      191,986       $ 2,954,665   

BankUnited, Inc.

      11,449         374,840   

Citigroup, Inc.

      40,000         2,060,800   

Fifth Third Bancorp

      100,126         1,887,375   

Huntington Bancshares, Inc.

      179,679         1,985,453   

JPMorgan Chase & Co.

      132,867         8,049,083   

KeyCorp

      38,413         543,928   

Regions Financial Corp.

      643,924         6,085,082   

SunTrust Banks, Inc.

      49,905         2,050,596   

Wells Fargo & Co.

      131,947         7,177,917   
     

 

 

  
      $ 33,169,739   
     

 

 

  

Beverages — 1.4%

      

Coca-Cola Co. (The)

      153,082       $ 6,207,475   

Coca-Cola Enterprises, Inc.

      21,105         932,841   

PepsiCo, Inc.

      60,609         5,795,433   
     

 

 

  
      $ 12,935,749   
     

 

 

  

Biotechnology — 6.9%

      

Amgen, Inc.

      61,770       $ 9,873,934   

Biogen, Inc.(1)

      35,831         15,129,281   

BioMarin Pharmaceutical, Inc.(1)

      16,822         2,096,358   

Celgene Corp.(1)

      142,582         16,436,853   

Gilead Sciences, Inc.(1)

      225,461         22,124,488   
     

 

 

  
      $ 65,660,914   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Building Products — 0.1%

      

Allegion PLC

      10,516       $ 643,264   
     

 

 

  
      $ 643,264   
     

 

 

  

Capital Markets — 1.8%

      

E*TRADE Financial Corp.(1)

      20,741       $ 592,259   

Franklin Resources, Inc.

      50,559         2,594,688   

Goldman Sachs Group, Inc. (The)

      19,203         3,609,588   

Invesco, Ltd.

      78,614         3,120,190   

Morgan Stanley

      53,096         1,894,996   

State Street Corp.

      43,478         3,196,937   

T. Rowe Price Group, Inc.

      23,664         1,916,311   
     

 

 

  
      $ 16,924,969   
     

 

 

  

Chemicals — 1.6%

      

Air Products and Chemicals, Inc.

      13,083       $ 1,979,196   

Celanese Corp., Series A

      10,077         562,901   

E.I. du Pont de Nemours & Co.

      47,601         3,402,044   

LyondellBasell Industries NV, Class A

      10,000         878,000   

PPG Industries, Inc.

      37,050         8,356,257   
     

 

 

  
      $ 15,178,398   
     

 

 

  

Commercial Services & Supplies — 0.1%

      

Waste Management, Inc.

      16,835       $ 912,962   
     

 

 

  
      $ 912,962   
     

 

 

  

Communications Equipment — 3.9%

      

Brocade Communications Systems, Inc.

      198,573       $ 2,356,069   

Cisco Systems, Inc.

      618,078         17,012,597   

Harris Corp.

      6,224         490,202   

QUALCOMM, Inc.

      243,978         16,917,434   
     

 

 

  
      $ 36,776,302   
     

 

 

  

Consumer Finance — 1.1%

      

American Express Co.

      50,565       $ 3,950,138   

Capital One Financial Corp.

      10,757         847,867   

Discover Financial Services

      102,596         5,781,284   
     

 

 

  
      $ 10,579,289   
     

 

 

  

Containers & Packaging — 0.3%

      

MeadWestvaco Corp.

      56,858       $ 2,835,508   
     

 

 

  
      $ 2,835,508   
     

 

 

  

Distributors — 0.2%

      

Genuine Parts Co.

      19,047       $ 1,774,990   
     

 

 

  
      $ 1,774,990   
     

 

 

  

Diversified Financial Services — 1.3%

      

Berkshire Hathaway, Inc., Class B(1)

      19,434       $ 2,804,715   

CME Group, Inc.

      12,294         1,164,365   

McGraw Hill Financial, Inc.

      37,507         3,878,224   

Moody’s Corp.

      45,252         4,697,157   
     

 

 

  
      $ 12,544,461   
     

 

 

  

Diversified Telecommunication Services — 1.6%

      

AT&T, Inc.

      163,438       $ 5,336,250   

Frontier Communications Corp.

      154,158         1,086,814   

Verizon Communications, Inc.

      149,422         7,266,392   

Windstream Holdings, Inc.

      131,062         969,859   
     

 

 

  
      $ 14,659,315   
     

 

 

  

Electric Utilities — 0.6%

      

American Electric Power Co., Inc.

      16,075       $ 904,219   

Edison International

      62,309         3,892,443   

NextEra Energy, Inc.

      8,000         832,400   
     

 

 

  
      $ 5,629,062   
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Electrical Equipment — 0.1%

      

Emerson Electric Co.

      24,158       $ 1,367,826   
     

 

 

  
      $ 1,367,826   
     

 

 

  

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

      

Knowles Corp.(1)

      16,848       $ 324,661   
     

 

 

  
      $ 324,661   
     

 

 

  

Energy Equipment & Services — 1.0%

      

Halliburton Co.

      98,584       $ 4,325,866   

Schlumberger, Ltd.

      62,574         5,221,174   
     

 

 

  
      $ 9,547,040   
     

 

 

  

Food & Staples Retailing — 1.5%

      

CVS Health Corp.

      88,422       $ 9,126,035   

Kroger Co. (The)

      37,587         2,881,419   

Walgreens Boots Alliance, Inc.

      22,000         1,862,960   
     

 

 

  
      $ 13,870,414   
     

 

 

  

Food Products — 1.8%

      

ConAgra Foods, Inc.

      48,260       $ 1,762,938   

Hershey Co. (The)

      11,826         1,193,362   

Hormel Foods Corp.

      10,580         601,473   

Kraft Foods Group, Inc.

      49,708         4,330,312   

Mondelez International, Inc., Class A

      265,000         9,563,850   
     

 

 

  
      $ 17,451,935   
     

 

 

  

Health Care Equipment & Supplies — 2.2%

      

Abbott Laboratories

      91,000       $ 4,216,030   

Baxter International, Inc.

      46,730         3,201,005   

Edwards Lifesciences Corp.(1)

      11,063         1,576,035   

Intuitive Surgical, Inc.(1)

      12,611         6,368,933   

Medtronic PLC

      24,665         1,923,624   

Stryker Corp.

      33,820         3,119,895   
     

 

 

  
      $ 20,405,522   
     

 

 

  

Health Care Providers & Services — 2.0%

      

Cigna Corp.

      36,534       $ 4,728,961   

DaVita HealthCare Partners, Inc.(1)

      14,550         1,182,624   

Express Scripts Holding Co.(1)

      39,350         3,414,399   

LifePoint Hospitals, Inc.(1)

      29,979         2,201,958   

McKesson Corp.

      7,813         1,767,301   

UnitedHealth Group, Inc.

      46,743         5,529,229   
     

 

 

  
      $ 18,824,472   
     

 

 

  

Hotels, Restaurants & Leisure — 2.3%

      

International Game Technology

      56,626       $ 985,859   

Marriott International, Inc., Class A

      92,128         7,399,721   

McDonald’s Corp.

      63,685         6,205,466   

Starwood Hotels & Resorts Worldwide, Inc.

      23,177         1,935,280   

Yum! Brands, Inc.

      72,349         5,695,313   
     

 

 

  
      $ 22,221,639   
     

 

 

  

Household Durables — 0.2%

      

Whirlpool Corp.

      8,566       $ 1,730,846   
     

 

 

  
      $ 1,730,846   
     

 

 

  

Household Products — 1.0%

      

Clorox Co. (The)

      39,829       $ 4,396,724   

Colgate-Palmolive Co.

      31,592         2,190,589   

Procter & Gamble Co. (The)

      29,064         2,381,504   
     

 

 

  
      $ 8,968,817   
     

 

 

  

Independent Power and Renewable Electricity Producers — 0.1%

      

AES Corp. (The)

      103,235       $ 1,326,570   
     

 

 

  
      $ 1,326,570   
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Industrial Conglomerates — 0.8%

      

3M Co.

      11,474       $ 1,892,636   

General Electric Co.

      241,040         5,980,203   
     

 

 

  
      $ 7,872,839   
     

 

 

  

Insurance — 1.5%

      

ACE, Ltd.

      35,393       $ 3,945,966   

Aflac, Inc.

      17,703         1,133,169   

Aon PLC

      4,957         476,467   

Genworth Financial, Inc., Class A(1)

      74,552         544,975   

Marsh & McLennan Cos., Inc.

      15,767         884,371   

Travelers Companies, Inc. (The)

      43,848         4,741,284   

Unum Group

      70,698         2,384,643   
     

 

 

  
      $ 14,110,875   
     

 

 

  

Internet & Catalog Retail — 2.9%

      

Amazon.com, Inc.(1)

      65,202       $ 24,261,664   

Netflix, Inc.(1)

      5,000         2,083,450   

Shutterfly, Inc.(1)

      27,478         1,243,105   
     

 

 

  
      $ 27,588,219   
     

 

 

  

Internet Software & Services — 8.2%

      

eBay, Inc.(1)

      129,341       $ 7,460,389   

Facebook, Inc., Class A(1)

      224,414         18,450,197   

Google, Inc., Class A(1)

      40,752         22,605,134   

Google, Inc., Class C(1)

      39,492         21,641,616   

LinkedIn Corp., Class A(1)

      4,433         1,107,629   

VeriSign, Inc.(1)

      94,613         6,336,233   
     

 

 

  
      $ 77,601,198   
     

 

 

  

IT Services — 2.9%

      

Alliance Data Systems Corp.(1)

      7,945       $ 2,353,706   

Cognizant Technology Solutions Corp., Class A(1)

      143,537         8,955,274   

Fidelity National Information Services, Inc.

      79,262         5,394,572   

International Business Machines Corp.

      21,832         3,504,036   

MasterCard, Inc., Class A

      38,080         3,289,731   

Visa, Inc., Class A

      63,696         4,166,355   
     

 

 

  
      $ 27,663,674   
     

 

 

  

Life Sciences Tools & Services — 0.1%

      

PerkinElmer, Inc.

      23,065       $ 1,179,544   
     

 

 

  
      $ 1,179,544   
     

 

 

  

Machinery — 1.3%

      

Caterpillar, Inc.

      11,120       $ 889,934   

Dover Corp.

      32,893         2,273,564   

Ingersoll-Rand PLC

      31,550         2,147,924   

Parker-Hannifin Corp.

      16,214         1,925,899   

Stanley Black & Decker, Inc.

      51,390         4,900,550   
     

 

 

  
      $ 12,137,871   
     

 

 

  

Marine — 0.1%

      

Kirby Corp.(1)

      17,666       $ 1,325,833   
     

 

 

  
      $ 1,325,833   
     

 

 

  

Media — 5.1%

      

Cablevision Systems Corp.

      27,056       $ 495,125   

CBS Corp., Class B

      88,076         5,340,048   

Comcast Corp., Class A

      386,923         21,849,542   

DIRECTV(1)

      38,000         3,233,800   

Liberty Global PLC, Series C(1)

      36,000         1,793,160   

Lions Gate Entertainment Corp.

      23,797         807,194   

Time Warner, Inc.

      17,000         1,435,480   

Walt Disney Co. (The)

      123,163         12,918,567   
     

 

 

  
      $ 47,872,916   
     

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Metals & Mining — 0.2%

      

Freeport-McMoRan, Inc.

      25,665       $ 486,352   

Newmont Mining Corp.

      20,961         455,063   

Nucor Corp.

      23,005         1,093,428   
     

 

 

  
      $ 2,034,843   
     

 

 

  

Multi-Utilities — 1.0%

      

CMS Energy Corp.

      217,119       $ 7,579,624   

Public Service Enterprise Group, Inc.

      43,527         1,824,652   
     

 

 

  
      $ 9,404,276   
     

 

 

  

Multiline Retail — 1.3%

      

Macy’s, Inc.

      81,687       $ 5,302,303   

Nordstrom, Inc.

      28,152         2,261,169   

Target Corp.

      54,516         4,474,128   
     

 

 

  
      $ 12,037,600   
     

 

 

  

Oil, Gas & Consumable Fuels — 3.9%

      

Chevron Corp.

      66,225       $ 6,952,300   

ConocoPhillips

      75,068         4,673,734   

EOG Resources, Inc.

      32,900         3,016,601   

Exxon Mobil Corp.

      119,578         10,164,130   

Hess Corp.

      28,844         1,957,642   

Occidental Petroleum Corp.

      34,959         2,552,007   

Phillips 66

      57,101         4,488,139   

Spectra Energy Corp.

      16,118         582,988   

Williams Cos., Inc. (The)

      48,359         2,446,482   
     

 

 

  
      $ 36,834,023   
     

 

 

  

Personal Products — 0.6%

      

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

      72,774       $ 6,051,886   
     

 

 

  
      $ 6,051,886   
     

 

 

  

Pharmaceuticals — 3.5%

      

AbbVie, Inc.

      11,165       $ 653,599   

Bristol-Myers Squibb Co.

      106,404         6,863,058   

Eli Lilly & Co.

      12,046         875,142   

Johnson & Johnson

      51,777         5,208,766   

Mallinckrodt PLC(1)

      3,225         408,446   

Merck & Co., Inc.

      158,250         9,096,210   

Pfizer, Inc.

      292,162         10,164,316   
     

 

 

  
      $ 33,269,537   
     

 

 

  

Professional Services — 0.5%

      

Equifax, Inc.

      15,738       $ 1,463,634   

Nielsen NV

      8,843         394,133   

Robert Half International, Inc.

      51,102         3,092,693   
     

 

 

  
      $ 4,950,460   
     

 

 

  

Real Estate Investment Trusts (REITs) — 1.3%

      

American Tower Corp.

      17,730       $ 1,669,279   

Apartment Investment & Management Co., Class A

      35,696         1,404,995   

Crown Castle International Corp.

      7,507         619,628   

Host Hotels & Resorts, Inc.

      28,981         584,837   

Simon Property Group, Inc.

      38,580         7,547,791   
     

 

 

  
      $ 11,826,530   
     

 

 

  

Real Estate Management & Development — 0.1%

      

CBRE Group, Inc., Class A(1)

      24,669       $ 954,937   
     

 

 

  
      $ 954,937   
     

 

 

  

 

5

 

 

                                                 
Security    Shares      Value  

Road & Rail — 0.8%

      

CSX Corp.

      34,587       $ 1,145,521   

Kansas City Southern

      4,645         474,162   

Norfolk Southern Corp.

      10,785         1,109,992   

Ryder System, Inc.

      12,392         1,175,877   

Union Pacific Corp.

      37,756         4,089,352   
     

 

 

  
      $ 7,994,904   
     

 

 

  

Semiconductors & Semiconductor Equipment — 5.0%

      

Analog Devices, Inc.

      56,522       $ 3,560,886   

ASML Holding NV - NY Shares

      16,394         1,656,286   

Cypress Semiconductor Corp.(1)

      245,589         3,465,261   

Intel Corp.

      560,441         17,524,990   

Microchip Technology, Inc.

      30,000         1,467,000   

NXP Semiconductors NV(1)

      42,233         4,238,504   

ON Semiconductor Corp.(1)

      149,333         1,808,422   

SunEdison, Inc.(1)

      41,136         987,264   

Tessera Technologies, Inc.

      28,424         1,144,919   

Texas Instruments, Inc.

      199,048         11,382,560   
     

 

 

  
      $ 47,236,092   
     

 

 

  

Software — 6.0%

      

Microsoft Corp.

      1,057,881       $ 43,008,152   

Oracle Corp.

      259,569         11,200,402   

Red Hat, Inc.(1)

      28,914         2,190,236   

TiVo, Inc.(1)

      42,923         455,413   
     

 

 

  
      $ 56,854,203   
     

 

 

  

Specialty Retail — 1.7%

      

Advance Auto Parts, Inc.

      26,636       $ 3,987,143   

Best Buy Co., Inc.

      28,506         1,077,242   

Gap, Inc. (The)

      35,268         1,528,162   

Home Depot, Inc. (The)

      58,008         6,590,289   

Tiffany & Co.

      28,579         2,515,238   
     

 

 

  
      $ 15,698,074   
     

 

 

  

Technology Hardware, Storage & Peripherals — 9.1%

      

Apple, Inc.

      690,904       $ 85,969,185   

Hewlett-Packard Co.

      10,000         311,600   
     

 

 

  
      $ 86,280,785   
     

 

 

  

Textiles, Apparel & Luxury Goods — 0.8%

      

NIKE, Inc., Class B

      73,632       $ 7,387,499   
     

 

 

  
      $ 7,387,499   
     

 

 

  

Thrifts & Mortgage Finance — 0.1%

      

Hudson City Bancorp, Inc.

      99,397       $ 1,041,681   
     

 

 

  
      $ 1,041,681   
     

 

 

  

Tobacco — 1.0%

      

Altria Group, Inc.

      27,194       $ 1,360,244   

Lorillard, Inc.

      17,939         1,172,314   

Philip Morris International, Inc.

      87,820         6,615,480   
     

 

 

  
      $ 9,148,038   
     

 

 

  

Trading Companies & Distributors — 0.3%

      

Fastenal Co.

      79,244       $ 3,283,475   
     

 

 

  
      $ 3,283,475   
     

 

 

  

Total Common Stocks — 100.0%
(identified cost $372,463,477)

       $ 947,558,167   
     

 

 

  

 

6

 

 

Call Options Written — (0.2)%

 

                                                                                                   
Description    Number of
Contracts		      Strike
Price		      Expiration
Date		      Value  

NASDAQ 100 Index

      275       $ 4,505         4/2/15       $ (4,813 ) 

NASDAQ 100 Index

      180         4,415         4/10/15         (184,500 ) 

NASDAQ 100 Index

      130         4,510         4/17/15         (38,675 ) 

NASDAQ 100 Index

      235         4,410         4/24/15         (730,850 ) 

S&P 500 Index

      590         2,115         4/2/15         (17,700 ) 

S&P 500 Index

      730         2,100         4/10/15         (346,750 ) 

S&P 500 Index

      565         2,125         4/17/15         (132,775 ) 

S&P 500 Index

      700         2,095         4/24/15         (927,500 ) 
           

 

 

  

Total Call Options Written
(premiums received $5,776,567)

             $ (2,383,563 ) 
           

 

 

  

Other Assets, Less Liabilities — 0.2%

             $ 2,164,194   
           

 

 

  

Net Assets — 100.0%

             $ 947,338,798   
           

 

 

  

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 March 31, 2015, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $     372,366,239   
  

 

 

  

Gross unrealized appreciation

    $ 575,801,569   

Gross unrealized depreciation

      (609,641 ) 
  

 

 

  

Net unrealized appreciation

    $ 575,191,928   
  

 

 

  

Written options activity for the fiscal year to date ended March 31, 2015 was as follows:

 

     Number of
Contracts		      Premiums
Received		  

Outstanding, beginning of period

      3,430       $ 6,728,713   

Options written

      11,225         21,287,991   

Options terminated in closing purchase transactions

      (5,205 )       (11,277,615 ) 

Options expired

      (6,045 )           (10,962,522 ) 
  

 

 

     

 

 

  

Outstanding, end of period

      3,405       $ 5,776,567   
  

 

 

     

 

 

  

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At March 31, 2015, 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 March 31, 2015, 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 $2,383,563.

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)

 

7

 

 

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, 2015, 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

    $     947,558,167 *     $ —       $ —       $     947,558,167   

Total Investments

    $ 947,558,167       $ —       $ —       $ 947,558,167   
Liability Description                                

Call Options Written

    $ (2,383,563 )     $ —       $ —       $ (2,383,563 ) 

Total

    $ (2,383,563 )     $ —       $ —       $ (2,383,563 ) 

 

* 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, 2014 whose fair value was determined using Level 3 inputs. At March 31, 2015, 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:   May 22, 2015

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:   May 22, 2015
By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   May 22, 2015