Company: ETV
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109401
Chunk: 15

Company: Eaton Vance Tax-Managed Buy-Write Opportunities Fund
Filing Date: 2025-05-01
Form: 424B5
Chunk 15
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 being qualified in all respects by this reference. Additional information about us can be found in our registration statement (including amendments, exhibits, and schedules) on Form N‑2 filed with the SEC. The SEC maintains a web site ( http://www.sec.gov) that contains our registration statement, other documents incorporated by reference, and other information we have filed electronically with the SEC, including proxy statements and reports filed under the Exchange Act. As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semi-annual shareholder reports are no longer being sent by mail unless you specifically request paper copies of the reports. Instead, the reports are being made available on the Fund’s website (funds.eatonvance.com/closed‑end‑fund‑and‑term‑trust‑documents.php), and you will be notified by mail each time a report is posted and provided with a website address to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you hold shares at the Fund’s transfer agent, Equiniti Trust Company, LLC (“EQ”), you may elect to receive shareholder reports and other communications from the Fund electronically by contacting EQ. If you own your shares through a financial intermediary (such as a broker-dealer or bank), you must contact your financial intermediary to sign up. You may elect to receive all future Fund shareholder reports in paper free of charge. If you hold shares at EQ, you can inform EQ that you wish to continue receiving paper copies of your shareholder reports by calling 1‑866‑439‑6787. If you own these shares through a financial intermediary, you must contact your financial intermediary or follow instructions included with this disclosure, if applicable, to elect to continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with EQ or to all funds held through your financial intermediary, as applicable. 6

BASE PROSPECTUS Up to 19,096,050 Shares Eaton Vance Tax‑Managed Buy‑Write Opportunities Fund Common Shares Investment Objectives and Policies.Eaton Vance Tax‑Managed Buy‑Write Opportunities Fund (the “Fund”) is a diversified, closed‑end management investment company that commenced operations on June 30, 2005. The Fund’s primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. In pursuing its investment objectives, the Fund will evaluate returns on an after‑tax