Company: ETV
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109401
Chunk: 181

Company: Eaton Vance Tax-Managed Buy-Write Opportunities Fund
Filing Date: 2025-05-01
Form: 424B5
Chunk 181
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 | 296,284,752 |     | Commissions Paid on 
 Transactions        
 Directed to Firms   
 Providing Research  | 17,488 |
|:------------------|:----|:----------------|-------:|:----|:-----------------------|------------:|:----|:--------------------|-------:|
| December 31, 2023 |     | $               | 32,805 |     | $                      | 411,499,524 |     | $                   | 29,698 |
| December 31, 2022 |     | $               | 41,352 |     | $                      | 575,289,541 |     | $                   | 40,319 |

During the fiscal year ended December 31, 2024, the Fund held no securities of its “regular brokers or dealers”, as that term is defined in Rule 10b-1of the 1940 Act.

TAXES The Fund has elected to be treated and intends to qualify each year as a regulated investment company (a “RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”).Accordingly, the Fund intends to satisfy certain requirements relating to sources of its income and diversification of its assets and to distribute substantially all of its net investment income and net capital gains, if any, (after reduction by certain capital loss carryforwards) in accordance with the timing requirements imposed by the Code, so as to maintain its RIC status and to avoid paying any U.S. federal income or excise tax. To the extent it qualifies for treatment as a RIC and satisfies the above-mentioned distribution requirements, the Fund will not be subject to U.S. federal income tax on income paid to its shareholders in the form of dividends. To qualify as a RIC for federal income tax purposes, the Fund must derive at least 90% of its annual gross income from dividends, interest, payments with respect to certain securities loans, gains from the sale or other disposition of stock, securities or foreign currencies, or other income (including, but not limited to, gains from options, futures or forward contracts) derived with respect to its business of investing in stock, securities and currencies, and net income derived from an interest in a “qualified publicly traded partnership” (a partnership (a) the interests in which are traded on an established securities market or are readily tradable on a secondary market or the substantial equivalent thereof and (b) that derives less than 90% of its