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, 2015

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Buy-Write Opportunities Fund

September 30, 2015

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.0%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 1.8%

      

Boeing Co. (The)

      17,122       $ 2,242,126   

Honeywell International, Inc.

      64,422         6,100,119   

Northrop Grumman Corp.

      25,030         4,153,728   

Rockwell Collins, Inc.

      42,746         3,498,333   

Textron, Inc.

      15,478         582,592   
     

 

 

  
   $ 16,576,898   
     

 

 

  

Air Freight & Logistics — 0.1%

      

C.H. Robinson Worldwide, Inc.

      14,000       $ 948,920   
     

 

 

  
   $ 948,920   
     

 

 

  

Airlines — 0.5%

      

Delta Air Lines, Inc.

      34,000       $ 1,525,580   

Southwest Airlines Co.

      52,956         2,014,446   

United Continental Holdings, Inc.(1)

      20,000         1,061,000   
     

 

 

  
   $ 4,601,026   
     

 

 

  

Auto Components — 0.5%

      

Dana Holding Corp.

      77,289       $ 1,227,349   

Goodyear Tire & Rubber Co. (The)

      19,777         580,060   

Johnson Controls, Inc.

      69,723         2,883,743   
     

 

 

  
   $ 4,691,152   
     

 

 

  

Automobiles — 0.3%

      

Ford Motor Co.

      41,101       $ 557,741   

Tesla Motors, Inc.(1)

      9,266         2,301,674   
     

 

 

  
   $ 2,859,415   
     

 

 

  

Banks — 3.6%

      

Bank of America Corp.

      191,986       $ 2,991,142   

BankUnited, Inc.

      11,449         409,302   

Citigroup, Inc.

      40,000         1,984,400   

Fifth Third Bancorp

      100,126         1,893,383   

Huntington Bancshares, Inc.

      179,679         1,904,597   

JPMorgan Chase & Co.

      132,867         8,100,901   

KeyCorp

      38,413         499,753   

Regions Financial Corp.

      643,924         5,801,755   

SunTrust Banks, Inc.

      49,905         1,908,367   

Wells Fargo & Co.

      131,947         6,775,479   
     

 

 

  
   $ 32,269,079   
     

 

 

  

Beverages — 1.4%

      

Coca-Cola Co. (The)

      153,082       $ 6,141,650   

Coca-Cola Enterprises, Inc.

      21,105         1,020,427   

PepsiCo, Inc.

      60,609         5,715,428   
     

 

 

  
   $ 12,877,505   
     

 

 

  

Biotechnology — 6.7%

      

AbbVie, Inc.

      11,165       $ 607,488   

Amgen, Inc.

      61,770         8,544,026   

Baxalta, Inc.

      46,730         1,472,462   

Biogen, Inc.(1)

      35,831         10,455,844   

BioMarin Pharmaceutical, Inc.(1)

      16,822         1,771,693   

Celgene Corp.(1)

      142,582         15,423,095   

Gilead Sciences, Inc.

      221,061         21,705,980   
     

 

 

  
   $ 59,980,588   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Building Products — 0.1%

      

Allegion PLC

      10,516       $ 606,353   
     

 

 

  
   $ 606,353   
     

 

 

  

Capital Markets — 1.6%

      

E*TRADE Financial Corp.(1)

      20,741       $ 546,111   

Franklin Resources, Inc.

      50,559         1,883,828   

Goldman Sachs Group, Inc. (The)

      19,203         3,336,713   

Invesco, Ltd.

      78,614         2,455,115   

Morgan Stanley

      53,096         1,672,524   

State Street Corp.

      43,478         2,922,157   

T. Rowe Price Group, Inc.

      23,664         1,644,648   
     

 

 

  
   $ 14,461,096   
     

 

 

  

Chemicals — 1.3%

      

Air Products and Chemicals, Inc.

      13,083       $ 1,669,129   

Celanese Corp., Series A

      10,077         596,256   

Chemours Co. (The)

      9,520         61,595   

E.I. du Pont de Nemours & Co.

      47,601         2,294,368   

LyondellBasell Industries NV, Class A

      10,000         833,600   

PPG Industries, Inc.

      74,100         6,497,829   
     

 

 

  
   $ 11,952,777   
     

 

 

  

Commercial Services & Supplies — 0.1%

      

Waste Management, Inc.

      16,835       $ 838,551   
     

 

 

  
   $ 838,551   
     

 

 

  

Communications Equipment — 3.5%

      

Brocade Communications Systems, Inc.

      198,573       $ 2,061,188   

Cisco Systems, Inc.

      618,078         16,224,547   

Harris Corp.

      6,224         455,286   

QUALCOMM, Inc.

      243,978         13,108,938   
     

 

 

  
   $ 31,849,959   
     

 

 

  

Consumer Finance — 1.1%

      

American Express Co.

      50,565       $ 3,748,383   

Capital One Financial Corp.

      10,757         780,098   

Discover Financial Services

      102,596         5,333,966   
     

 

 

  
   $ 9,862,447   
     

 

 

  

Containers & Packaging — 0.3%

      

WestRock Co.

      44,349       $ 2,281,313   
     

 

 

  
   $ 2,281,313   
     

 

 

  

Distributors — 0.2%

      

Genuine Parts Co.

      19,047       $ 1,578,806   
     

 

 

  
   $ 1,578,806   
     

 

 

  

Diversified Financial Services — 1.4%

      

Berkshire Hathaway, Inc., Class B(1)

      19,434       $ 2,534,194   

CME Group, Inc.

      12,294         1,140,146   

Leucadia National Corp.

      72,896         1,476,873   

McGraw Hill Financial, Inc.

      37,507         3,244,355   

Moody’s Corp.

      45,252         4,443,746   
     

 

 

  
   $ 12,839,314   
     

 

 

  

Diversified Telecommunication Services — 1.6%

      

AT&T, Inc.

      235,334       $ 7,667,182   

Frontier Communications Corp.

      154,158         732,250   

Verizon Communications, Inc.

      145,422         6,327,311   
     

 

 

  
   $ 14,726,743   
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Electric Utilities — 0.5%

      

American Electric Power Co., Inc.

      16,075       $ 914,024   

Edison International

      62,309         3,929,829   
     

 

 

  
   $ 4,843,853   
     

 

 

  

Electrical Equipment — 0.1%

      

Emerson Electric Co.

      24,158       $ 1,067,059   
     

 

 

  
   $ 1,067,059   
     

 

 

  

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

      

Knowles Corp.(1)

      16,848       $ 310,509   
     

 

 

  
   $ 310,509   
     

 

 

  

Energy Equipment & Services — 1.0%

      

Ensco PLC, Class A

      31,010       $ 436,621   

Halliburton Co.

      98,584         3,484,944   

Schlumberger, Ltd.

      62,574         4,315,729   

Transocean, Ltd.

      73,572         950,550   
     

 

 

  
   $ 9,187,844   
     

 

 

  

Food & Staples Retailing — 2.0%

      

CVS Health Corp.

      88,422       $ 8,530,954   

Kroger Co. (The)

      75,174         2,711,526   

Walgreens Boots Alliance, Inc.

      80,756         6,710,824   
     

 

 

  
   $ 17,953,304   
     

 

 

  

Food Products — 2.4%

      

ConAgra Foods, Inc.

      48,260       $ 1,955,013   

Hershey Co. (The)

      11,826         1,086,573   

Hormel Foods Corp.

      10,580         669,820   

Kraft Heinz Co. (The)

      90,063         6,356,646   

Mondelez International, Inc., Class A

      265,000         11,095,550   
     

 

 

  
   $ 21,163,602   
     

 

 

  

Health Care Equipment & Supplies — 1.9%

      

Abbott Laboratories

      91,000       $ 3,660,020   

Baxter International, Inc.

      46,730         1,535,081   

Edwards Lifesciences Corp.(1)

      11,063         1,572,827   

Intuitive Surgical, Inc.(1)

      12,611         5,795,763   

Medtronic PLC

      17,665         1,182,495   

Stryker Corp.

      33,820         3,182,462   
     

 

 

  
   $ 16,928,648   
     

 

 

  

Health Care Providers & Services — 1.7%

      

Cigna Corp.

      36,534       $ 4,932,821   

DaVita HealthCare Partners, Inc.(1)

      14,550         1,052,402   

LifePoint Hospitals, Inc.(1)

      29,979         2,125,511   

McKesson Corp.

      7,813         1,445,639   

Tenet Healthcare Corp.(1)

      10,704         395,192   

UnitedHealth Group, Inc.

      46,743         5,422,655   
     

 

 

  
   $ 15,374,220   
     

 

 

  

Hotels, Restaurants & Leisure — 2.0%

      

Marriott International, Inc., Class A

      92,128       $ 6,283,130   

McDonald’s Corp.

      47,626         4,692,590   

Starwood Hotels & Resorts Worldwide, Inc.

      23,177         1,540,807   

Yum! Brands, Inc.

      72,349         5,784,302   
     

 

 

  
   $ 18,300,829   
     

 

 

  

Household Durables — 0.1%

      

Whirlpool Corp.

      8,566       $ 1,261,429   
     

 

 

  
   $ 1,261,429   
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Household Products — 0.9%

      

Clorox Co. (The)

      39,829       $ 4,601,444   

Colgate-Palmolive Co.

      31,592         2,004,828   

Procter & Gamble Co. (The)

      25,092         1,805,119   
     

 

 

  
   $ 8,411,391   
     

 

 

  

Independent Power and Renewable Electricity Producers — 0.1%

      

AES Corp. (The)

      103,235       $ 1,010,671   
     

 

 

  
   $ 1,010,671   
     

 

 

  

Industrial Conglomerates — 0.9%

      

3M Co.

      11,474       $ 1,626,669   

General Electric Co.

      241,040         6,079,029   
     

 

 

  
   $ 7,705,698   
     

 

 

  

Insurance — 1.4%

      

ACE, Ltd.

      35,393       $ 3,659,636   

Aflac, Inc.

      17,703         1,029,075   

Aon PLC

      4,957         439,240   

Marsh & McLennan Cos., Inc.

      15,767         823,353   

Travelers Cos., Inc. (The)

      43,848         4,364,191   

Unum Group

      70,698         2,267,992   
     

 

 

  
   $ 12,583,487   
     

 

 

  

Internet & Catalog Retail — 4.2%

      

Amazon.com, Inc.(1)

      65,202       $ 33,376,252   

Netflix, Inc.(1)

      35,000         3,614,100   

Shutterfly, Inc.(1)

      17,478         624,838   
     

 

 

  
   $ 37,615,190   
     

 

 

  

Internet Software & Services — 9.0%

      

eBay, Inc.(1)

      129,341       $ 3,161,094   

Facebook, Inc., Class A(1)

      221,414         19,905,119   

Google, Inc., Class A(1)

      40,752         26,014,854   

Google, Inc., Class C(1)

      39,600         24,093,432   

LinkedIn Corp., Class A(1)

      4,433         842,846   

VeriSign, Inc.(1)

      94,613         6,675,893   
     

 

 

  
   $ 80,693,238   
     

 

 

  

IT Services — 3.5%

      

Alliance Data Systems Corp.(1)

      7,945       $ 2,057,596   

Cognizant Technology Solutions Corp., Class A(1)

      143,537         8,986,851   

Fidelity National Information Services, Inc.

      79,262         5,316,895   

International Business Machines Corp.

      21,832         3,164,985   

MasterCard, Inc., Class A

      38,080         3,431,770   

PayPal Holdings, Inc.(1)

      129,341         4,014,745   

Visa, Inc., Class A

      63,696         4,437,063   
     

 

 

  
   $ 31,409,905   
     

 

 

  

Life Sciences Tools & Services — 0.1%

      

PerkinElmer, Inc.

      23,065       $ 1,060,067   
     

 

 

  
   $ 1,060,067   
     

 

 

  

Machinery — 1.3%

      

Caterpillar, Inc.

      11,120       $ 726,803   

Dover Corp.

      32,893         1,880,822   

Ingersoll-Rand PLC

      31,550         1,601,794   

Joy Global, Inc.

      41,808         624,193   

Parker-Hannifin Corp.

      16,214         1,577,622   

Stanley Black & Decker, Inc.

      51,390         4,983,802   
     

 

 

  
   $ 11,395,036   
     

 

 

  

Marine — 0.1%

      

Kirby Corp.(1)

      17,666       $ 1,094,409   
     

 

 

  
   $ 1,094,409   
     

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Media — 4.5%

      

Cablevision Systems Corp.

      27,056       $ 878,508   

CBS Corp., Class B

      88,076         3,514,233   

Comcast Corp., Class A

      371,923         21,154,980   

Liberty Global PLC, LiLAC Class C(1)

      15,164         519,215   

News Corp., Class B

      50,000         641,000   

Time Warner, Inc.

      17,000         1,168,750   

Walt Disney Co. (The)

      123,163         12,587,259   
     

 

 

  
   $ 40,463,945   
     

 

 

  

Metals & Mining — 0.2%

      

Freeport-McMoRan, Inc.

      45,326       $ 439,209   

Nucor Corp.

      23,005         863,838   
     

 

 

  
   $ 1,303,047   
     

 

 

  

Multi-Utilities — 1.1%

      

CMS Energy Corp.

      217,119       $ 7,668,643   

Public Service Enterprise Group, Inc.

      43,527         1,835,098   
     

 

 

  
   $ 9,503,741   
     

 

 

  

Multiline Retail — 1.2%

      

Macy’s, Inc.

      81,687       $ 4,192,177   

Nordstrom, Inc.

      28,152         2,018,780   

Target Corp.

      54,516         4,288,228   
     

 

 

  
   $ 10,499,185   
     

 

 

  

Oil, Gas & Consumable Fuels — 3.3%

      

Chevron Corp.

      66,225       $ 5,223,828   

ConocoPhillips

      60,716         2,911,939   

EOG Resources, Inc.

      32,900         2,395,120   

Exxon Mobil Corp.

      119,578         8,890,624   

Hess Corp.

      28,844         1,443,931   

Occidental Petroleum Corp.

      34,959         2,312,538   

Phillips 66

      57,101         4,387,641   

Spectra Energy Corp.

      16,118         423,420   

Williams Cos., Inc. (The)

      48,359         1,782,029   
     

 

 

  
   $ 29,771,070   
     

 

 

  

Personal Products — 0.7%

      

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

      72,774       $ 5,871,406   
     

 

 

  
   $ 5,871,406   
     

 

 

  

Pharmaceuticals — 3.7%

  

Allergan PLC(1)

      12,525       $ 3,404,420   

Bristol-Myers Squibb Co.

      106,404         6,299,117   

Eli Lilly & Co.

      12,046         1,008,130   

Johnson & Johnson

      59,777         5,580,183   

Mallinckrodt PLC(1)

      5,641         360,686   

Merck & Co., Inc.

      158,250         7,815,967   

Pfizer, Inc.

      292,162         9,176,808   
     

 

 

  
   $ 33,645,311   
     

 

 

  

Professional Services — 0.5%

      

Equifax, Inc.

      15,738       $ 1,529,419   

Nielsen Holdings PLC

      8,843         393,248   

Robert Half International, Inc.

      51,102         2,614,378   
     

 

 

  
   $ 4,537,045   
     

 

 

  

Real Estate Investment Trusts (REITs) — 1.2%

      

American Tower Corp.

      17,730       $ 1,559,885   

Apartment Investment & Management Co., Class A

      35,696         1,321,466   

Crown Castle International Corp.

      7,507         592,077   

Host Hotels & Resorts, Inc.

      28,981         458,190   

Simon Property Group, Inc.

      38,580         7,087,918   
     

 

 

  
   $ 11,019,536   
     

 

 

  

 

5

 

 

                                                 
Security    Shares      Value  

Real Estate Management & Development — 0.1%

      

CBRE Group, Inc., Class A(1)

      24,669       $ 789,408   
     

 

 

  
   $ 789,408   
     

 

 

  

Road & Rail — 0.7%

      

CSX Corp.

      34,587       $ 930,390   

Kansas City Southern

      4,645         422,138   

Norfolk Southern Corp.

      10,785         823,974   

Ryder System, Inc.

      12,392         917,504   

Union Pacific Corp.

      37,756         3,338,008   
     

 

 

  
   $ 6,432,014   
     

 

 

  

Semiconductors & Semiconductor Equipment — 4.6%

      

Analog Devices, Inc.

      56,522       $ 3,188,406   

ASML Holding NV - NY Shares

      16,394         1,442,344   

Cypress Semiconductor Corp.(1)

      205,589         1,751,618   

Intel Corp.

      560,441         16,891,692   

Microchip Technology, Inc.

      30,000         1,292,700   

NXP Semiconductors NV(1)

      42,233         3,677,227   

ON Semiconductor Corp.(1)

      149,333         1,403,730   

Qorvo, Inc.(1)

      10,630         478,882   

Tessera Technologies, Inc.

      28,424         921,222   

Texas Instruments, Inc.

      199,048         9,856,857   
     

 

 

  
   $ 40,904,678   
     

 

 

  

Software — 6.4%

      

Microsoft Corp.

      1,029,881       $ 45,582,533   

Oracle Corp.

      259,569         9,375,632   

Red Hat, Inc.(1)

      28,914         2,078,339   

TiVo, Inc.(1)

      42,923         371,713   
     

 

 

  
      $ 57,408,217   
     

 

 

  

Specialty Retail — 1.8%

      

Advance Auto Parts, Inc.

      26,636       $ 5,048,321   

Best Buy Co., Inc.

      28,506         1,058,143   

Gap, Inc. (The)

      35,268         1,005,138   

Home Depot, Inc. (The)

      58,008         6,699,344   

Tiffany & Co.

      28,579         2,206,870   
     

 

 

  
      $ 16,017,816   
     

 

 

  

Technology Hardware, Storage & Peripherals — 8.3%

      

Apple, Inc.

      675,404       $ 74,497,061   

Hewlett-Packard Co.

      10,000         256,100   
     

 

 

  
      $ 74,753,161   
     

 

 

  

Textiles, Apparel & Luxury Goods — 1.0%

      

NIKE, Inc., Class B

      73,632       $ 9,054,527   
     

 

 

  
      $ 9,054,527   
     

 

 

  

Thrifts & Mortgage Finance — 0.1%

      

Hudson City Bancorp, Inc.

      99,397       $ 1,010,868   
     

 

 

  
      $ 1,010,868   
     

 

 

  

Tobacco — 1.0%

      

Altria Group, Inc.

      27,194       $ 1,479,354   

Philip Morris International, Inc.

      87,820         6,966,760   

Reynolds American, Inc.

      10,436         462,002   
     

 

 

  
      $ 8,908,116   
     

 

 

  

Trading Companies & Distributors — 0.3%

      

Fastenal Co.

      79,244       $ 2,901,123   
     

 

 

  
      $ 2,901,123   
     

 

 

  

Total Common Stocks — 100.0%
(identified cost $376,425,292)

       $ 899,966,545   
     

 

 

  

 

6

 

 

                                                                                                   

Call Options Written — (0.2)%

  

   
Description    Number of
Contracts		      Strike
Price		      Expiration
Date		      Value  

NASDAQ 100 Index

      220       $ 4,300         10/2/15       $ (14,300 ) 

NASDAQ 100 Index

      170         4,350         10/9/15         (109,650 ) 

NASDAQ 100 Index

      225         4,465         10/16/15         (59,625 ) 

NASDAQ 100 Index

      175         4,375         10/23/15         (350,875 ) 

S&P 500 Index

      675         1,970         10/2/15         (47,250 ) 

S&P 500 Index

      615         1,990         10/9/15         (178,350 ) 

S&P 500 Index

      730         2,000         10/16/15         (292,000 ) 

S&P 500 Index

      605         1,980         10/23/15         (722,975 ) 
           

 

 

  

Total Call Options Written
(premiums received $11,663,121)

             $ (1,775,025 ) 
           

 

 

  

Other Assets, Less Liabilities — 0.2%

             $ 2,056,939   
           

 

 

  

Net Assets — 100.0%

             $ 900,248,459   
           

 

 

  

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

 

Aggregate cost

    $     376,328,054   
  

 

 

  

Gross unrealized appreciation

    $ 525,876,535   

Gross unrealized depreciation

      (2,238,044 ) 
  

 

 

  

Net unrealized appreciation

    $ 523,638,491   
  

 

 

  

Written options activity for the fiscal year to date ended September 30, 2015 was as follows:

 

     Number of
Contracts		      Premiums
Received		  
Outstanding, beginning of period      3,430       $ 6,728,713   
Options written      33,490         68,730,935   
Options terminated in closing purchase transactions      (12,555 )       (26,748,425 ) 
Options expired      (20,950 )       (37,048,102 ) 
  

 

 

     

 

 

  
Outstanding, end of period      3,415       $     11,663,121   
  

 

 

     

 

 

  

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At September 30, 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 September 30, 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 $1,775,025.

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.)

 

7

 

 

•  

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, 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

    $ 899,966,545 *     $ —       $ —       $ 899,966,545   

Total Investments

    $     899,966,545       $ —       $ —       $     899,966,545   
Liability Description                                

Call Options Written

    $ (1,775,025 )     $ —       $ —       $ (1,775,025 ) 

Total

    $ (1,775,025 )     $ —       $ —       $ (1,775,025 ) 

 

* 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 September 30, 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/ Michael A. Allison
  Michael A. Allison
  President
Date:   November 23, 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/ Michael A. Allison
  Michael A. Allison
  President
Date:   November 23, 2015

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   November 23, 2015