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, 2014

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Buy-Write Opportunities Fund

March 31, 2014

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.3%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 2.2%

      

Boeing Co. (The)

      26,140       $ 3,280,308   

Honeywell International, Inc.

      77,664         7,204,113   

Northrop Grumman Corp.

      43,452         5,361,108   

Rockwell Collins, Inc.

      49,396         3,935,379   

Textron, Inc.

      15,478         608,131   
     

 

 

  
      $ 20,389,039   
     

 

 

  

Airlines — 0.2%

      

Southwest Airlines Co.

      60,023       $ 1,417,143   
     

 

 

  
      $ 1,417,143   
     

 

 

  

Auto Components — 0.6%

      

Dana Holding Corp.

      77,289       $ 1,798,515   

Goodyear Tire & Rubber Co. (The)

      19,777         516,773   

Johnson Controls, Inc.

      71,926         3,403,538   
     

 

 

  
      $ 5,718,826   
     

 

 

  

Automobiles — 0.3%

      

Ford Motor Co.

      41,101       $ 641,175   

General Motors Co.

      20,000         688,400   

Tesla Motors, Inc.(1)

      9,266         1,931,498   
     

 

 

  
      $ 3,261,073   
     

 

 

  

Banks — 3.9%

      

Bank of America Corp.

      165,000       $ 2,838,000   

BankUnited, Inc.

      21,449         745,782   

Citigroup, Inc.

      15,000         714,000   

Fifth Third Bancorp

      100,126         2,297,892   

First Republic Bank

      21,771         1,175,416   

Huntington Bancshares, Inc.

      179,679         1,791,400   

JPMorgan Chase & Co.

      132,867         8,066,355   

KeyCorp

      38,413         547,001   

Regions Financial Corp.

      643,924         7,153,996   

SunTrust Banks, Inc.

      49,905         1,985,720   

U.S. Bancorp

      29,359         1,258,327   

Wells Fargo & Co.

      163,476         8,131,296   
     

 

 

  
      $ 36,705,185   
     

 

 

  

Beverages — 1.5%

      

Coca-Cola Co. (The)

      204,063       $ 7,889,076   

Coca-Cola Enterprises, Inc.

      21,105         1,007,975   

PepsiCo, Inc.

      60,609         5,060,851   
     

 

 

  
      $ 13,957,902   
     

 

 

  

Biotechnology — 5.9%

      

Amgen, Inc.

      64,403       $ 7,943,466   

Biogen Idec, Inc.(1)

      40,574         12,410,369   

BioMarin Pharmaceutical, Inc.(1)

      23,822         1,624,899   

Celgene Corp.(1)

      95,610         13,347,156   

Gilead Sciences, Inc.(1)

      279,867         19,831,376   
     

 

 

  
      $ 55,157,266   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Building Products — 0.1%

      

Allegion PLC

      10,516       $ 548,620   
     

 

 

  
      $ 548,620   
     

 

 

  

Capital Markets — 1.7%

      

Franklin Resources, Inc.

      50,559       $ 2,739,287   

Goldman Sachs Group, Inc. (The)

      19,203         3,146,412   

Invesco, Ltd.

      78,614         2,908,718   

Morgan Stanley

      53,096         1,655,002   

State Street Corp.

      43,478         3,023,895   

T. Rowe Price Group, Inc.

      23,664         1,948,730   
     

 

 

  
      $ 15,422,044   
     

 

 

  

Chemicals — 1.7%

      

Air Products and Chemicals, Inc.

      26,339       $ 3,135,395   

Celanese Corp., Series A

      10,077         559,374   

E.I. du Pont de Nemours & Co.

      63,024         4,228,910   

PPG Industries, Inc.

      41,446         8,018,143   
     

 

 

  
      $ 15,941,822   
     

 

 

  

Commercial Services & Supplies — 0.2%

      

Waste Management, Inc.

      53,872       $ 2,266,395   
     

 

 

  
      $ 2,266,395   
     

 

 

  

Communications Equipment — 4.7%

      

Brocade Communications Systems, Inc.(1)

      321,783       $ 3,414,117   

Cisco Systems, Inc.

      752,183         16,856,421   

Harris Corp.

      6,224         455,348   

QUALCOMM, Inc.

      282,750         22,297,665   

Riverbed Technology, Inc.(1)

      26,232         517,033   
     

 

 

  
      $ 43,540,584   
     

 

 

  

Consumer Finance — 1.3%

      

American Express Co.

      52,940       $ 4,766,188   

Capital One Financial Corp.

      10,757         830,010   

Discover Financial Services

      116,006         6,750,389   
     

 

 

  
      $ 12,346,587   
     

 

 

  

Containers & Packaging — 0.4%

      

Avery Dennison Corp.

      31,661       $ 1,604,263   

MeadWestvaco Corp.

      56,858         2,140,135   
     

 

 

  
      $ 3,744,398   
     

 

 

  

Distributors — 0.2%

      

Genuine Parts Co.

      19,047       $ 1,654,232   
     

 

 

  
      $ 1,654,232   
     

 

 

  

Diversified Financial Services — 1.2%

      

Berkshire Hathaway, Inc., Class B(1)

      19,434       $ 2,428,667   

CME Group, Inc.

      12,294         909,879   

McGraw Hill Financial, Inc.

      57,011         4,349,939   

Moody’s Corp.

      45,252         3,589,389   
     

 

 

  
      $ 11,277,874   
     

 

 

  

Diversified Telecommunication Services — 1.6%

      

AT&T, Inc.

      166,227       $ 5,829,581   

Frontier Communications Corp.

      154,158         878,701   

Verizon Communications, Inc.

      145,422         6,917,724   

Windstream Holdings, Inc.

      131,062         1,079,951   
     

 

 

  
      $ 14,705,957   
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Electric Utilities — 0.5%

      

American Electric Power Co., Inc.

      16,075       $ 814,360   

Edison International

      62,309         3,527,312   
     

 

 

  
      $ 4,341,672   
     

 

 

  

Electrical Equipment — 0.6%

      

Emerson Electric Co.

      78,984       $ 5,276,131   
     

 

 

  
      $ 5,276,131   
     

 

 

  

Electronic Equipment, Instruments & Components — 0.1%

      

Knowles Corp.(1)

      20,169       $ 636,735   
     

 

 

  
      $ 636,735   
     

 

 

  

Energy Equipment & Services — 1.3%

      

Halliburton Co.

      104,167       $ 6,134,395   

Schlumberger, Ltd.

      62,574         6,100,965   
     

 

 

  
      $ 12,235,360   
     

 

 

  

Food & Staples Retailing — 0.9%

      

CVS Caremark Corp.

      88,422       $ 6,619,271   

Kroger Co. (The)

      37,587         1,640,673   

Wal-Mart Stores, Inc.

      4,824         368,698   
     

 

 

  
      $ 8,628,642   
     

 

 

  

Food Products — 1.6%

      

ConAgra Foods, Inc.

      48,260       $ 1,497,508   

Hershey Co. (The)

      17,810         1,859,364   

Hormel Foods Corp.

      10,580         521,276   

Kraft Foods Group, Inc.

      49,708         2,788,619   

Mondelez International, Inc., Class A

      250,000         8,637,500   
     

 

 

  
      $ 15,304,267   
     

 

 

  

Health Care Equipment & Supplies — 1.9%

      

Abbott Laboratories

      91,000       $ 3,504,410   

Baxter International, Inc.

      46,730         3,438,393   

Covidien PLC

      25,801         1,900,502   

Edwards Lifesciences Corp.(1)

      11,063         820,543   

Intuitive Surgical, Inc.(1)

      12,611         5,523,492   

Stryker Corp.

      33,820         2,755,315   
     

 

 

  
      $ 17,942,655   
     

 

 

  

Health Care Providers & Services — 1.7%

      

Cigna Corp.

      36,534       $ 3,058,992   

DaVita HealthCare Partners, Inc.(1)

      14,550         1,001,767   

Express Scripts Holding Co.(1)

      30,000         2,252,700   

LifePoint Hospitals, Inc.(1)

      36,055         1,966,800   

McKesson Corp.

      7,813         1,379,541   

UnitedHealth Group, Inc.

      70,143         5,751,025   
     

 

 

  
      $ 15,410,825   
     

 

 

  

Hotels, Restaurants & Leisure — 2.4%

      

International Game Technology

      56,626       $ 796,162   

Marriott International, Inc., Class A

      92,128         5,161,010   

Marriott Vacations Worldwide Corp.(1)

      10,303         576,041   

McDonald’s Corp.

      71,902         7,048,553   

Starwood Hotels & Resorts Worldwide, Inc.

      39,775         3,166,090   

Yum! Brands, Inc.

      72,349         5,454,391   
     

 

 

  
      $ 22,202,247   
     

 

 

  

Household Durables — 0.5%

      

Whirlpool Corp.

      29,270       $ 4,374,694   
     

 

 

  
      $ 4,374,694   
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Household Products — 0.9%

      

Clorox Co. (The)

      39,829       $ 3,505,350   

Colgate-Palmolive Co.

      31,592         2,049,373   

Procter & Gamble Co.

      34,773         2,802,704   
     

 

 

  
      $ 8,357,427   
     

 

 

  

Independent Power and Renewable Electricity Producers — 0.2%

      

AES Corp. (The)

      103,235       $ 1,474,196   
     

 

 

  
      $ 1,474,196   
     

 

 

  

Industrial Conglomerates — 1.3%

      

3M Co.

      28,082       $ 3,809,604   

General Electric Co.

      326,711         8,458,548   
     

 

 

  
      $ 12,268,152   
     

 

 

  

Insurance — 1.5%

      

ACE, Ltd.

      35,393       $ 3,506,031   

Aflac, Inc.

      17,703         1,115,997   

Aon PLC

      4,957         417,776   

Genworth Financial, Inc., Class A(1)

      74,552         1,321,807   

Marsh & McLennan Cos., Inc.

      24,157         1,190,940   

Travelers Companies, Inc. (The)

      43,848         3,731,465   

Unum Group

      70,698         2,496,346   
     

 

 

  
      $ 13,780,362   
     

 

 

  

Internet & Catalog Retail — 2.8%

      

Amazon.com, Inc.(1)

      69,040       $ 23,233,341   

Netflix, Inc.(1)

      5,000         1,760,150   

Shutterfly, Inc.(1)

      27,478         1,172,761   
     

 

 

  
      $ 26,166,252   
     

 

 

  

Internet Software & Services — 8.0%

      

eBay, Inc.(1)

      206,613       $ 11,413,302   

Facebook, Inc., Class A(1)

      197,469         11,895,533   

Google, Inc., Class A(1)

      40,934         45,621,352   

LinkedIn Corp., Class A(1)

      4,433         819,839   

VeriSign, Inc.(1)

      94,613         5,100,587   
     

 

 

  
      $ 74,850,613   
     

 

 

  

IT Services — 2.8%

      

Alliance Data Systems Corp.(1)

      7,945       $ 2,164,615   

Cognizant Technology Solutions Corp., Class A(1)

      179,375         9,078,169   

Fidelity National Information Services, Inc.

      79,262         4,236,554   

International Business Machines Corp.

      23,032         4,433,430   

MasterCard, Inc., Class A

      38,080         2,844,576   

Visa, Inc., Class A

      15,924         3,437,354   
     

 

 

  
      $ 26,194,698   
     

 

 

  

Life Sciences Tools & Services — 0.3%

      

Bruker Corp.(1)

      57,399       $ 1,308,123   

PerkinElmer, Inc.

      23,065         1,039,309   
     

 

 

  
      $ 2,347,432   
     

 

 

  

Machinery — 1.5%

      

Caterpillar, Inc.

      27,518       $ 2,734,464   

Dover Corp.

      40,339         3,297,713   

Ingersoll-Rand PLC

      31,550         1,805,922   

Parker Hannifin Corp.

      16,981         2,032,795   

Stanley Black & Decker, Inc.

      51,390         4,174,924   
     

 

 

  
      $ 14,045,818   
     

 

 

  

Marine — 0.2%

      

Kirby Corp.(1)

      17,666       $ 1,788,682   
     

 

 

  
      $ 1,788,682   
     

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Media — 4.8%

      

CBS Corp., Class B

      90,566       $ 5,596,979   

Comcast Corp., Class A

      427,426         21,379,848   

Lions Gate Entertainment Corp.

      23,797         636,094   

Omnicom Group, Inc.

      7,983         579,566   

Sirius XM Holdings, Inc.(1)

      340,529         1,089,693   

Time Warner, Inc.

      17,000         1,110,610   

Twenty-First Century Fox, Inc., Class A

      80,000         2,557,600   

Walt Disney Co. (The)

      145,670         11,663,797   
     

 

 

  
      $ 44,614,187   
     

 

 

  

Metals & Mining — 0.2%

      

Freeport-McMoRan Copper & Gold, Inc.

      15,665       $ 518,041   

Newmont Mining Corp.

      20,961         491,326   

Nucor Corp.

      23,005         1,162,673   
     

 

 

  
      $ 2,172,040   
     

 

 

  

Multi-Utilities — 0.9%

      

CMS Energy Corp.

      217,119       $ 6,357,244   

Public Service Enterprise Group, Inc.

      63,761         2,431,845   
     

 

 

  
      $ 8,789,089   
     

 

 

  

Multiline Retail — 1.3%

      

Macy’s, Inc.

      106,841       $ 6,334,603   

Nordstrom, Inc.

      28,152         1,758,092   

Target Corp.

      66,617         4,030,995   
     

 

 

  
      $ 12,123,690   
     

 

 

  

Oil, Gas & Consumable Fuels — 4.9%

      

Chevron Corp.

      66,225       $ 7,874,815   

ConocoPhillips

      104,007         7,316,892   

EOG Resources, Inc.

      16,450         3,226,997   

Exxon Mobil Corp.

      144,645         14,128,924   

Hess Corp.

      28,844         2,390,591   

Occidental Petroleum Corp.

      34,959         3,331,243   

Phillips 66

      57,101         4,400,203   

Spectra Energy Corp.

      16,118         595,399   

Williams Cos., Inc.

      48,359         1,962,408   

WPX Energy, Inc.(1)

      41,343         745,414   
     

 

 

  
      $ 45,972,886   
     

 

 

  

Personal Products — 0.6%

      

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

      77,774       $ 5,201,525   
     

 

 

  
      $ 5,201,525   
     

 

 

  

Pharmaceuticals — 3.7%

      

AbbVie, Inc.

      6,412       $ 329,577   

Bristol-Myers Squibb Co.

      128,845         6,693,498   

Eli Lilly & Co.

      12,046         709,028   

Johnson & Johnson

      51,777         5,086,055   

Mallinckrodt PLC(1)

      3,225         204,497   

Merck & Co., Inc.

      158,250         8,983,852   

Pfizer, Inc.

      391,195         12,565,183   
     

 

 

  
      $ 34,571,690   
     

 

 

  

Professional Services — 0.5%

      

Equifax, Inc.

      17,082       $ 1,162,089   

Nielsen Holdings NV

      16,843         751,703   

Robert Half International, Inc.

      75,839         3,181,446   
     

 

 

  
      $ 5,095,238   
     

 

 

  

Real Estate Investment Trusts (REITs) — 1.0%

      

American Tower Corp.

      17,730       $ 1,451,555   

 

5

 

 

                                                 
Security    Shares      Value  

Apartment Investment & Management Co., Class A

      35,696       $ 1,078,733   

Host Hotels & Resorts, Inc.

      28,981         586,576   

Simon Property Group, Inc.

      38,580         6,327,120   
     

 

 

  
      $ 9,443,984   
     

 

 

  

Real Estate Management & Development — 0.1%

      

CB Richard Ellis Group, Inc., Class A(1)

      24,669       $ 676,671   
     

 

 

  
      $ 676,671   
     

 

 

  

Road & Rail — 0.8%

      

CSX Corp.

      34,587       $ 1,001,985   

Kansas City Southern

      4,645         474,069   

Norfolk Southern Corp.

      10,785         1,047,978   

Ryder System, Inc.

      12,392         990,369   

Union Pacific Corp.

      18,878         3,542,646   
     

 

 

  
      $ 7,057,047   
     

 

 

  

Semiconductors & Semiconductor Equipment — 4.6%

      

Analog Devices, Inc.

      56,522       $ 3,003,579   

ASML Holding NV - NY Shares

      26,394         2,464,144   

Cypress Semiconductor Corp.(1)

      245,589         2,522,199   

Intel Corp.

      758,775         19,583,983   

Microchip Technology, Inc.

      30,000         1,432,800   

NXP Semiconductors NV(1)

      29,000         1,705,490   

ON Semiconductor Corp.(1)

      149,333         1,403,730   

Tessera Technologies, Inc.

      50,120         1,184,336   

Texas Instruments, Inc.

      199,048         9,385,113   
     

 

 

  
      $ 42,685,374   
     

 

 

  

Software — 6.8%

      

Compuware Corp.

      97,123       $ 1,019,791   

Microsoft Corp.

      1,178,115         48,290,934   

Oracle Corp.

      300,071         12,275,905   

Red Hat, Inc.(1)

      28,914         1,531,864   

TiVo, Inc.(1)

      42,923         567,871   
     

 

 

  
      $ 63,686,365   
     

 

 

  

Specialty Retail — 1.6%

      

Advance Auto Parts, Inc.

      36,820       $ 4,657,730   

Best Buy Co., Inc.

      28,506         752,843   

Gap, Inc. (The)

      35,268         1,412,836   

Home Depot, Inc. (The)

      58,008         4,590,173   

Tiffany & Co.

      39,926         3,439,625   
     

 

 

  
      $ 14,853,207   
     

 

 

  

Technology Hardware, Storage & Peripherals — 7.4%

      

Apple, Inc.

      126,465       $ 67,878,824   

Hewlett-Packard Co.

      10,000         323,600   

NetApp, Inc.

      20,000         738,000   
     

 

 

  
      $ 68,940,424   
     

 

 

  

Textiles, Apparel & Luxury Goods — 0.6%

      

NIKE, Inc., Class B

      73,632       $ 5,438,459   
     

 

 

  
      $ 5,438,459   
     

 

 

  

Thrifts & Mortgage Finance — 0.2%

      

Hudson City Bancorp, Inc.

      180,579       $ 1,775,091   
     

 

 

  
      $ 1,775,091   
     

 

 

  

Tobacco — 1.1%

      

Altria Group, Inc.

      27,194       $ 1,017,872   

Lorillard, Inc.

      17,939         970,141   

Philip Morris International, Inc.

      101,144         8,280,659   
     

 

 

  
      $ 10,268,672   
     

 

 

  

 

6

 

 

                                                                                                   
Security                    Shares      Value  

Trading Companies & Distributors — 0.4%

            

Fastenal Co.

            79,244       $ 3,908,314   
           

 

 

  
            $ 3,908,314   
           

 

 

  

Wireless Telecommunication Services — 0.1%

            

Rogers Communications, Inc., Class B

            14,940       $ 619,114   
           

 

 

  
            $ 619,114   
           

 

 

  

Total Common Stocks — 100.3%
(identified cost $411,278,247)

             $ 933,574,874   
           

 

 

  
Call Options Written — (0.6)%            
Description    Number of
Contracts		      Strike
Price		      Expiration
Date		      Value  

NASDAQ 100 Index

      290       $ 3,755         4/4/14       $ (9,425 ) 

NASDAQ 100 Index

      185         3,685         4/11/14         (167,425 ) 

NASDAQ 100 Index

      225         3,725         4/19/14         (163,125 ) 

NASDAQ 100 Index

      265         3,650         4/25/14         (882,450 ) 

S&P 500 Index

      715         1,890         4/4/14         (178,750 ) 

S&P 500 Index

      700         1,865         4/11/14         (1,298,500 ) 

S&P 500 Index

      700         1,870         4/19/14         (1,284,500 ) 

S&P 500 Index

      700         1,875         4/25/14         (1,351,000 ) 
           

 

 

  

Total Call Options Written
(premiums received $7,682,826)

             $ (5,335,175 ) 
           

 

 

  

Other Assets, Less Liabilities — 0.3%

             $ 2,973,306   
           

 

 

  

Net Assets — 100.0%

             $     931,213,005   
           

 

 

  

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

 

(1) Non-income producing security.

The cost and unrealized appreciation (depreciation) of investments of the Fund at March 31, 2014, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $ 411,181,009   
  

 

 

  

Gross unrealized appreciation

    $     522,605,276   

Gross unrealized depreciation

      (211,411 ) 
  

 

 

  

Net unrealized appreciation

    $ 522,393,865   
  

 

 

  

Written options activity for the fiscal year to date ended March 31, 2014 was as follows:

 

     Number of
Contracts		     Premiums
Received		  

Outstanding, beginning of period

      3,955      $ 8,060,086   

Options written

      12,540            26,110,592   

Options terminated in closing purchase transactions

      (8,780 )      (18,217,776 ) 

Options expired

      (3,935 )      (8,270,076 ) 
  

 

 

    

 

 

  

Outstanding, end of period

      3,780      $ 7,682,826   
  

 

 

    

 

 

  

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent.

At March 31, 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.

 

7

 

 

At March 31, 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 $5,335,175.

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, 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

    $ 933,574,874 *    $     —       $     —       $ 933,574,874   

Total Investments

    $     933,574,874      $ —       $ —       $     933,574,874   
Liability Description                               

Call Options Written

    $ (5,335,175 )    $ —       $ —       $ (5,335,175 ) 

Total

    $ (5,335,175 )    $ —       $ —       $ (5,335,175 ) 

 

* 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 March 31, 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:   May 23, 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:   May 23, 2014

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   May 23, 2014