Company: ETV
Filing Date: 2025-04-29
Form Type: N-2ASR
Source: 0001193125-25-103160
Chunk: 4

Company: Eaton Vance Tax-Managed Buy-Write Opportunities Fund
Filing Date: 2025-04-29
Form: N-2ASR
Chunk 4
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 to exceed the total return performance of the NASDAQ‑100 ®Index(the “NASDAQ‑100 ®”); and (2) selling on a continuous basis S&P 500 ®call options on at least 80% of the value of Segment One and NASDAQ‑100 ®call options on at least 80% of the value of Segment Two. Under normal market conditions, the Fund invests at least 80% of its total assets in a diversified portfolio of common stocks, designated segments of which seek to exceed the total return performance of the S&P 500 ®and the NASDAQ‑100 ®. Over time, the percentages of the Fund’s stock portfolio invested in each Segment may vary as a result of relative changes in the indices, the Adviser’s evaluation of equity market conditions and other factors. Due to tax considerations, the Fund intends to limit the overlap between its stock portfolio holdings (and any subset thereof) and each of the S&P 500 ®and the NASDAQ‑100 ®to less than 70% on an ongoing basis. The Fund’s stock holdings may include stocks not included in either index. The Fund invests primarily in common stocks of U.S. issuers. The Fund seeks to generate current earnings in part by employing an options strategy of writing (selling) index call options on the S&P 500 ®and the NASDAQ‑100 ®. The Fund seeks to generate gains from option premiums and from the sale of equity securities it holds in Segment One and Segment Two of its portfolio. Under normal market conditions, the Fund expects to sell on a continuous basis S&P 500 ®call options on at least 80% of the value of Segment One and NASDAQ‑100 ®call options on at least 80% of the value of Segment Two. Under normal market conditions, at least 80% of the value of the Fund’s total assets are subject to written index call options. Writing index call options involves a tradeoff between the option premiums received and reduced participation in potential future price appreciation of the Fund’s portfolio of common stocks. During unusual market conditions, the Fund may invest up to 100% of its assets in cash or cash equivalents temporarily, which may be inconsistent with its investment objectives, principal strategies and other policies. Exchange Listing.As of April 23, 2025, the Fund had 116,754,568 Common Shares outstanding. The Fund’s Common Shares are traded on the New York Stock Exchange (“NYSE”) under the symbol “ETV.” As of April 23,