Eaton Vance Tax-Managed Buy-Write Opportunities Fund (the Fund) is a diversified closed-end management investment company. The Fund's primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. It invests in a diversified portfolio of common stocks and writes call options on one or more United States indices on a portion of the value of its common stock portfolio. The Fund evaluates returns on an after tax basis and seeks to minimize and defer federal income taxes incurred by shareholders in connection with their investment in the Fund. It invests in sectors, such as information technology, consumer discretionary, financial services, healthcare, industrials, consumer staples, energy, telecommunications, utilities and materials. The Fund’s investment advisor is Eaton Vance Management (EVM), a subsidiary of Eaton Vance Corp. State Street Bank and Trust Company (SSBT) serves as a custodian of the Fund.