Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Regulatory Filings • Nov 29, 2006

N-Q 1 a06-21120_1nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number	811-21735
Eaton Vance Tax-Managed Buy-Write Opportunities
Fund
(Exact Name of
Registrant as Specified in Charter)
The Eaton Vance Building, 255 State Street, Boston, Massachusetts	02109
(Address of
Principal Executive Offices)	(Zip code)
Alan R. Dynner, Esq. Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109
(Name and Address
of Agent for Service)
Registrant’s Telephone
Number, Including Area Code:	(617)
482-8260
Date of Fiscal Year End:	December
31
Date of Reporting Period:	September
30, 2006

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Item 1. Schedule of Investments

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Eaton Vance Tax-Managed Buy-Write Opportunities Fund as of September 30, 2006

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 101.7%

Security	Shares	Value
Aerospace &
Defense — 1.4%
General Dynamics Corp.	54,228	$ 3,886,521
Honeywell
International, Inc.	153,464	6,276,678
Northrop Grumman Corp.	87,518	5,957,350
		$ 16,120,549
Air
Freight & Logistics — 0.7%
FedEx Corp.	66,217	7,196,464
Hub Group, Inc.,
Class A (1)	31,798	724,358
		$ 7,920,822
Auto
Components — 0.4%
Johnson
Controls, Inc.	62,060	4,452,184
		$ 4,452,184
Beverages —
1.2%
Brown-Forman Corp.,
Class B	10,403	797,390
Coca-Cola Co.	117,208	5,236,853
PepsiCo, Inc.	119,822	7,819,584
		$ 13,853,827
Biotechnology —
4.8%
Amgen, Inc. (1)	355,963	25,462,033
Biogen Idec, Inc.
(1)	156,386	6,987,326
BioMarin
Pharmaceutical, Inc. (1)	33,661	478,996
Enzon
Pharmaceuticals, Inc. (1)	85,000	701,250
Genzyme Corp. (1)	101,950	6,878,566
Gilead
Sciences, Inc. (1)	213,291	14,653,092
Regeneron
Pharmaceuticals, Inc. (1)	108,503	1,702,412
		$ 56,863,675
Capital
Markets — 2.2%
Amvescap PLC	80,706	1,769,076
Bank of New York
Co., Inc.	228,487	8,056,452
Charles Schwab Corp.	97,584	1,746,754
Federated
Investors, Inc.	17,577	594,278
Franklin
Resources, Inc.	73,904	7,815,348
Goldman Sachs
Group, Inc.	32,518	5,501,070
T. Rowe Price
Group, Inc.	21,876	1,046,767
		$ 26,529,745
Chemicals —
1.3%
Ashland, Inc.	1,339	85,401
Dow Chemical Co.	137,985	5,378,655
Du Pont E.I. de Nemours
Co.	14,281	611,798
Eastman Chemical Co.	33,114	1,788,818
Monsanto Co.	155,450	7,307,704

1

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Rohm & Haas Co.	14,250	$
Tronox, Inc.,
Class B	2,869	36,637
		$ 15,883,750
Commercial
Banks — 4.1%
Bank of America Corp.	335,612	17,978,735
Comerica, Inc.	9,100	517,972
Compass
Bancshares, Inc.	11,751	669,572
First Horizon National
Corp.	32,450	1,233,424
Huntington
Bancshares, Inc.	21,800	521,674
Marshall &
Ilsley Corp.	42,370	2,041,387
National City Corp.	208,604	7,634,906
North Fork
Bancorp, Inc.	163,917	4,694,583
Popular, Inc.	33,484	650,929
Regions Financial Corp.	55,048	2,025,216
Synovus Financial Corp.	18,347	538,851
Wells Fargo &
Co.	288,882	10,451,751
		$ 48,959,000
Commercial
Services & Supplies — 1.2%
Acco Brands Corp. (1)	11,126	247,665
Avery Dennison Corp.	9,865	593,577
Cintas Corp.	213,538	8,718,757
Donnelley
(R.R) & Sons Co.	85,009	2,801,897
Equifax, Inc.	17,858	655,567
Half (Robert)
International, Inc.	21,611	734,126
Pitney Bowes, Inc.	21,262	943,395
		$ 14,694,984
Communications
Equipment — 7.2%
Ciena Corp. (1)	21,580	588,055
Cisco Systems, Inc.
(1)	1,470,933	33,831,459
Corning, Inc. (1)	173,033	4,223,736
Motorola, Inc.	254,178	6,354,450
QUALCOMM, Inc.	881,503	32,042,634
Research in Motion, Ltd.
(1)	75,604	7,761,507
		$ 84,801,841
Computer
Peripherals — 5.7%
Apple
Computer, Inc. (1)	428,039	32,971,844
Dell, Inc. (1)	376,767	8,605,358
International Business
Machines Corp.	176,202	14,437,992
McDATA Corp.,
Class A (1)	130,906	658,457
Network
Appliance, Inc. (1)	196,068	7,256,477
Palm, Inc. (1)	183,682	2,674,410
Seagate Technology (1)	55,837	1,289,276
		$ 67,893,814

2

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| Construction &
Engineering — 0.1% — Fluor Corp. | 9,092 | $ 699,084 |
| --- | --- | --- |
| | | $ 699,084 |
| Containers &
Packaging — 0.2% | | |
| Bemis Co., Inc. | 19,722 | 648,065 |
| Temple-Inland, Inc. | 33,131 | 1,328,553 |
| | | $ 1,976,618 |
| Distributors —
0.0% | | |
| Genuine Parts Co. | 12,694 | 547,492 |
| | | $ 547,492 |
| Diversified
Consumer Services — 0.2% | | |
| H&R Block, Inc. | 109,446 | 2,379,356 |
| | | $ 2,379,356 |
| Diversified
Financial Services — 2.7% | | |
| CIT Group Inc. | 12,621 | 613,759 |
| Citigroup, Inc. | 455,686 | 22,633,924 |
| JPMorgan
Chase & Co. | 147,672 | 6,934,677 |
| Moody’s Corp. | 26,753 | 1,749,111 |
| | | $ 31,931,471 |
| Diversified
Telecommunication Services — 2.0% | | |
| AT&T Corp. | 195,287 | 6,358,545 |
| BellSouth Corp. | 28,744 | 1,228,806 |
| Citizens Communications
Co. | 425,089 | 5,968,250 |
| Embarq Corp. | 12,082 | 584,406 |
| Qwest Communications
International, Inc. (1) | 74,950 | 653,564 |
| Verizon
Communications, Inc. | 251,832 | 9,350,522 |
| | | $ 24,144,093 |
| Electric
Utilities — 0.7% | | |
| PPL Corp. | 59,438 | 1,955,510 |
| Progress
Energy, Inc. | 135,095 | 6,130,611 |
| | | $ 8,086,121 |
| Electrical
Equipment — 0.8% | | |
| Cooper Industries, Ltd.,
Class A | 55,811 | 4,756,213 |
| Emerson Electric Co. | 59,709 | 5,007,197 |
| | | $ 9,763,410 |
| Electronic
Equipment & Instruments — 0.2% | | |
| Agilent
Technologies, Inc. (1) | 80,301 | 2,625,040 |
| | | $ 2,625,040 |
| Energy
Equipment & Services — 1.5% | | |
| Diamond Offshore
Drilling, Inc. | 41,269 | 2,986,638 |
| Halliburton Co. | 247,660 | 7,045,927 |

3

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Noble Corp.	66,566	$
Transocean, Inc.
(1)	44,333	3,246,506
		$ 17,551,277
Food &
Staples Retailing — 2.4%
CVS Corp.	244,991	7,869,111
Safeway, Inc.	190,210	5,772,874
SUPERVALU, Inc.	15,863	470,338
Wal-Mart
Stores, Inc.	281,358	13,876,577
		$ 27,988,900
Food
Products — 0.9%
Archer-Daniels-Midland
Co.	58,107	2,201,093
Campbell Soup Co.	16,880	616,120
ConAgra Foods, Inc.	156,193	3,823,605
H.J. Heinz Co.	18,409	771,889
Hershey Co.	10,759	575,069
McCormick &
Co., Inc.	15,743	597,919
Sara Lee Corp.	140,854	2,263,524
		$ 10,849,219
Gas
Utilities — 0.1%
Nicor, Inc.	28,999	1,239,997
		$ 1,239,997
Health Care Equipment & Supplies —
1.3%
Baxter
International, Inc.	53,182	2,417,654
Becton, Dickinson
and Co.	11,666	824,436
C.R.
Bard, Inc.	8,005	600,375
Cooper
Cos., Inc.	2,438	130,433
Hospira, Inc.
(1)	13,496	516,492
Intuitive
Surgical, Inc. (1)	13,918	1,467,653
Medtronic, Inc.	115,235	5,351,513
Stryker Corp.	66,366	3,291,090
Zimmer
Holdings, Inc. (1)	11,520	777,600
		$ 15,377,246
Health Care Providers & Services —
1.8%
Caremark
Rx, Inc.	80,040	4,535,867
Genesis
HealthCare Corp. (1)	51,852	2,469,711
Health Management
Associates, Inc., Class A	4,522	94,510
Humana, Inc.
(1)	24,940	1,648,285
Manor
Care, Inc.	34,326	1,794,563
McKesson Corp.	127,345	6,713,628
Quest
Diagnostics, Inc.	72,955	4,461,928
		$ 21,718,492

4

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Hotels, Restaurants & Leisure — 1.8% — Carnival Corp.	19,600	$ 921,788
Harrah’s
Entertainment, Inc.	84,311	5,600,780
International
Game Technology	18,708	776,382
McDonald’s Corp.	13,554	530,232
Starbucks Corp.
(1)	310,863	10,584,885
Starwood
Hotels & Resorts Worldwide, Inc.	32,575	1,862,964
Wendy’s
International Inc.	11,254	754,018
		$ 21,031,049
Household Durables — 0.8%
Black &
Decker Corp.	5,886	467,054
D.R.
Horton, Inc.	62,229	1,490,385
Fortune
Brands, Inc.	40,476	3,040,152
Stanley Works	56,752	2,829,087
Whirlpool Corp.	23,719	1,995,005
		$ 9,821,683
Household Products — 1.4%
Colgate-Palmolive
Co.	7,774	482,765
Procter &
Gamble Co.	265,555	16,459,099
		$ 16,941,864
Independent Power Producers & Energy
Traders — 0.5%
TXU Corp.	85,519	5,346,648
		$ 5,346,648
Industrial Conglomerates — 2.7%
General Electric
Co.	761,087	26,866,371
Textron Inc.	7,000	612,500
Tyco
International, Ltd.	164,456	4,603,123
		$ 32,081,994
Insurance — 3.1%
ACE, Ltd.	68,766	3,763,563
American
International Group, Inc.	156,261	10,353,854
AON Corp.	21,504	728,340
Arthur J.
Gallagher & Co.	115,781	3,087,879
Cincinnati
Financial Corp.	13,382	643,139
Lincoln National
Corp.	22,863	1,419,335
Marsh &
McLennan Cos., Inc.	110,850	3,120,428
Progressive Corp.	14,112	346,308
Prudential Financial, Inc.	44,972	3,429,115
RenaissanceRe
Holdings, Ltd.	33,585	1,867,326
SAFECO Corp.	12,497	736,448
St. Paul
Travelers Cos., Inc.	139,548	6,543,406
XL Capital Ltd.,
Class A	1,697	116,584
		$ 36,155,725

5

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| Internet & Catalog Retail — 0.6% — IAC/InterActiveCorp
(1) | 227,517 | $ 6,543,389 |
| --- | --- | --- |
| | | $ 6,543,389 |
| Internet Software & Services — 4.1% | | |
| eBay, Inc.
(1) | 414,488 | 11,754,880 |
| Google, Inc.,
Class A (1) | 63,552 | 25,541,549 |
| Yahoo!, Inc.
(1) | 426,913 | 10,792,361 |
| | | $ 48,088,790 |
| IT Services — 2.1% | | |
| Automatic Data
Processing, Inc. | 67,402 | 3,190,811 |
| CheckFree Corp.
(1) | 91,365 | 3,775,202 |
| Euronet
Worldwide, Inc. (1) | 37,379 | 917,654 |
| Infosys
Technologies, Ltd. ADR | 73,468 | 3,506,628 |
| MoneyGram
International, Inc. | 112,881 | 3,280,322 |
| Paychex, Inc. | 218,890 | 8,066,097 |
| Satyam Computer
Services, Ltd. ADR | 53,066 | 2,053,124 |
| | | $ 24,789,838 |
| Leisure Equipment & Products — 0.0% | | |
| Eastman Kodak Co. | 19,707 | 441,437 |
| Mattel, Inc. | 4,756 | 93,693 |
| | | $ 535,130 |
| Life Sciences Tools & Services — 0.1% | | |
| Millipore Corp.
(1) | 9,704 | 594,855 |
| PerkinElmer, Inc. | 28,152 | 532,917 |
| Waters Corp. (1) | 13,273 | 601,001 |
| | | $ 1,728,773 |
| Machinery — 1.7% | | |
| Caterpillar, Inc. | 110,370 | 7,262,346 |
| Danaher Corp. | 58,451 | 4,013,830 |
| Deere &
Co. | 56,159 | 4,712,302 |
| Eaton Corp. | 58,699 | 4,041,426 |
| | | $ 20,029,904 |
| Media — 5.1% | | |
| CBS Corp.,
Class B | 66,548 | 1,874,657 |
| Comcast Corp.,
Class A (1) | 423,498 | 15,605,901 |
| Dow
Jones & Co., Inc. | 21,109 | 707,996 |
| McGraw-Hill
Cos., Inc. | 8,885 | 515,597 |
| Meredith Corp. | 10,785 | 532,024 |
| NTL, Inc. | 239,209 | 6,083,085 |
| Omnicom
Group, Inc. | 40,734 | 3,812,702 |
| Sirius Satellite
Radio, Inc. (1) | 728,642 | 2,848,990 |
| Time
Warner, Inc. | 461,816 | 8,418,906 |
| TiVo, Inc.
(1) | 326,806 | 2,480,458 |

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| Univision
Communications, Inc., Class A (1) | 94,667 | $ |
| --- | --- | --- |
| Viacom, Inc.,
Class B (1) | 62,696 | 2,331,037 |
| Walt Disney Co. | 370,224 | 11,443,624 |
| | | $ 59,905,842 |
| Metals & Mining — 0.8% | | |
| Freeport-McMoRan
Copper & Gold, Inc., Class B | 126,002 | 6,710,867 |
| Nucor Corp. | 52,354 | 2,590,999 |
| | | $ 9,301,866 |
| Multiline Retail — 1.5% | | |
| Federated
Department Stores, Inc. | 55,726 | 2,407,920 |
| J.C. Penney
Company, Inc. | 34,690 | 2,372,449 |
| Nordstrom, Inc. | 87,000 | 3,680,100 |
| Sears Holdings
Corp. (1) | 55,188 | 8,724,671 |
| | | $ 17,185,140 |
| Multi-Utilities — 1.6% | | |
| Ameren Corp. | 117,357 | 6,195,276 |
| Duke Energy Corp. | 75,502 | 2,280,160 |
| KeySpan Corp. | 19,542 | 803,958 |
| NiSource, Inc. | 233,391 | 5,073,920 |
| PG&E Corp. | 6,785 | 282,595 |
| Public Service
Enterprise Group, Inc. | 77,955 | 4,770,066 |
| | | $ 19,405,975 |
| Office Electronics — 0.1% | | |
| Xerox Corp. (1) | 98,889 | 1,538,713 |
| | | $ 1,538,713 |
| Oil, Gas & Consumable Fuels — 4.1% | | |
| Chevron Corp. | 55,781 | 3,617,956 |
| ConocoPhillips | 180,588 | 10,750,404 |
| EOG
Resources, Inc. | 34,122 | 2,219,636 |
| Exxon Mobil Corp. | 382,496 | 25,665,482 |
| Hugoton Royalty
Trust | 3,445 | 90,776 |
| Sunoco Inc. | 9,132 | 567,919 |
| Valero Energy
Corp. | 11,660 | 600,140 |
| Williams
Cos., Inc. | 218,252 | 5,209,675 |
| XTO
Energy, Inc. | 4,834 | 203,656 |
| | | $ 48,925,644 |
| Paper and Forest Products — 0.1% | | |
| MeadWestvaco
Corp. | 45,728 | 1,212,249 |
| | | $ 1,212,249 |
| Personal Products — 0.0% | | |
| Nu Skin
Enterprises, Inc., Class A | 20,342 | 356,392 |
| | | $ 356,392 |

7

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| Pharmaceuticals — 4.9% — Abbott
Laboratories | 122,167 | $ 5,932,430 |
| --- | --- | --- |
| Allergan, Inc. | 6,128 | 690,074 |
| Bristol-Myers
Squibb Co. | 331,596 | 8,263,372 |
| Eli
Lilly & Co. | 92,218 | 5,256,426 |
| Endo
Pharmaceuticals Holdings, Inc. (1) | 31,975 | 1,040,786 |
| Forest
Laboratories, Inc. (1) | 32,914 | 1,665,778 |
| Johnson &
Johnson Co. | 143,589 | 9,324,670 |
| Mylan
Laboratories, Inc. | 27,473 | 553,031 |
| Pfizer, Inc. | 528,005 | 14,974,222 |
| Valeant
Pharmaceuticals International | 64,803 | 1,281,803 |
| Wyeth | 178,308 | 9,065,179 |
| | | $ 58,047,771 |
| Real Estate Investment Trusts (REITs) — 0.2% | | |
| Host
Hotels & Resorts, Inc. | 19,942 | 457,270 |
| Plum Creek Timber
Co., Inc. | 14,401 | 490,210 |
| Simon Property
Group, Inc. | 19,298 | 1,748,785 |
| | | $ 2,696,265 |
| Road & Rail — 0.2% | | |
| CSX Corp. | 24,910 | 817,795 |
| Norfolk Southern
Corp. | 17,741 | 781,491 |
| Ryder
System, Inc. | 10,708 | 553,389 |
| | | $ 2,152,675 |
| Semiconductors & Semiconductor
Equipment — 6.6% | | |
| Analog
Devices, Inc. | 144,139 | 4,236,245 |
| Applied
Materials, Inc. | 669,505 | 11,870,324 |
| ASML Holding N.V.
(1) | 130,002 | 3,026,447 |
| Atheros
Communications, Inc. (1) | 44,676 | 809,976 |
| Intel Corp. | 881,116 | 18,124,556 |
| Intersil Corp.,
Class A | 25,657 | 629,879 |
| KLA-Tencor Corp. | 188,098 | 8,364,718 |
| LSI Logic Corp.
(1) | 140,907 | 1,158,256 |
| Marvell
Technology Group, Ltd. (1) | 238,380 | 4,617,421 |
| Maxim Integrated
Products, Inc. | 262,593 | 7,370,986 |
| MEMC Electronic
Materials, Inc. (1) | 59,262 | 2,170,767 |
| Micron
Technology, Inc. (1) | 125,916 | 2,190,938 |
| National
Semiconductor Corp. | 106,880 | 2,514,886 |
| NVIDIA Corp. (1) | 205,118 | 6,069,442 |
| PMC-Sierra, Inc.
(1) | 132,829 | 789,004 |
| STMicroelectronics
N.V. | 85,975 | 1,483,929 |
| Teradyne, Inc.
(1) | 127,301 | 1,675,281 |
| Tessera
Technologies, Inc. (1) | 26,142 | 909,219 |
| | | $ 78,012,274 |

8

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| Software — 8.0% — Activision, Inc.
(1) | 56,934 | $ 859,703 |
| --- | --- | --- |
| Adobe
Systems, Inc. (1) | 255,331 | 9,562,146 |
| BMC
Software, Inc. (1) | 30,550 | 831,571 |
| Business Objects
SA ADR (1) | 42,163 | 1,437,337 |
| Compuware Corp.
(1) | 87,217 | 679,420 |
| i2 Technologies, Inc.
(1) | 88,398 | 1,655,695 |
| Microsoft Corp. | 1,996,930 | 54,576,097 |
| Oracle Corp. (1) | 1,395,748 | 24,760,570 |
| Symantec Corp.
(1) | 16,314 | 347,162 |
| Wind River
Systems, Inc. (1) | 63,851 | 683,844 |
| | | $ 95,393,545 |
| Specialty Retail — 2.0% | | |
| Bed Bath and
Beyond, Inc. (1) | 184,051 | 7,041,791 |
| Best Buy
Co., Inc. | 87,871 | 4,706,371 |
| Gap, Inc. | 174,362 | 3,304,160 |
| Lowe’s
Companies, Inc. | 169,876 | 4,766,721 |
| Men’s
Wearhouse, Inc. | 32,380 | 1,204,860 |
| Stein
Mart, Inc. | 23,963 | 364,477 |
| Tiffany &
Co. | 16,186 | 537,375 |
| TJX
Companies, Inc. | 84,338 | 2,363,994 |
| | | $ 24,289,749 |
| Textiles, Apparel & Luxury Goods —
0.3% | | |
| Coach, Inc.
(1) | 22,579 | 776,718 |
| Hanesbrands, Inc.
(1) | 17,606 | 396,311 |
| NIKE, Inc.,
Class B | 28,394 | 2,487,882 |
| | | $ 3,660,911 |
| Thrifts & Mortgage Finance — 0.1% | | |
| Accredited Home
Lenders (1) | 12,096 | 434,730 |
| Commercial
Capital Bancorp | 31,525 | 502,509 |
| MGIC Investment
Corp. | 8,152 | 488,875 |
| PMI
Group, Inc. | 6,174 | 270,483 |
| | | $ 1,696,597 |
| Tobacco — 1.4% | | |
| Altria
Group, Inc. | 102,975 | 7,882,736 |
| Reynolds
American, Inc. | 105,132 | 6,515,030 |
| UST, Inc. | 32,501 | 1,782,030 |
| | | $ 16,179,796 |
| Trading Companies & Distributors —
0.1% | | |
| WW
Grainger, Inc. | 9,595 | 643,057 |
| | | $ 643,057 |

9

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| Wireless Telecommunication Services — 0.6% — NII
Holdings, Inc. (1) | 42,377 | $ 2,634,154 |
| --- | --- | --- |
| Sprint Nextel
Corp. | 248,609 | 4,263,644 |
| | | $ 6,897,798 |
| Total Common Stocks (identified cost $1,086,281,250) | | $ 1,205,449,053 |
| Total
Investments — 101.7% (identified cost $1,086,281,250) | | $ 1,205,449,053 |

Covered Call Options Written — (2.0%)

Type of Contract	Number of — Contracts	Premium — Received	Value
Nasdaq 100 Index,
Expires 10/21/06, Strike 1,625.00	505	$ 1,716,192	$ 2,363,400
Nasdaq 100,
Expires 10/21/06, Strike 1,640.00	1,183	3,614,658	4,335,695
Nasdaq 100,
Expires 10/21/06, Strike 1,650.00	1,209	3,053,582	3,651,180
S & P
500 Index, Expires 10/21/06, Strike 1,315.00	712	1,208,976	2,356,720
S & P
500 Index, Expires 10/21/06, Strike 1,320.00	1,552	2,609,736	4,004,160
S & P
500, Expires 10/21/06, Strike 1,325.00	3,087	4,564,351	6,822,270
Total Call Options Written (premiums received $16,767,495)			$ (23,533,425	)
Other Assets, Less Liabilities — 0.3%			$ 3,934,823
Net Assets —
100.0%			$ 1,185,850,451

ADR	-	American Depository Receipt
REITs	-	Real Estate Investment Trusts
(1)		Non-income producing security.

The cost and unrealized appreciation (depreciation) in value of the investments owned at September 30, 2006, as computed on a federal income tax basis, were as follows:

Aggregate cost	$
Gross unrealized
appreciation	$ 147,404,977
Gross unrealized
depreciation	(28,243,123	)
Net unrealized appreciation	$ 119,161,854

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Written call option activity for the nine months ended September 30, 2006 was as follows:

| Outstanding,
beginning of period | Number of Contracts — 8,649 | | Premiums Received — $ 17,480,251 | |
| --- | --- | --- | --- | --- |
| Options written | 76,639 | | 144,825,823 | |
| Options
terminated in closing purchase transactions | (77,040 | ) | (145,538,579 | ) |
| Outstanding, end of
period | 8,248 | | $ 16,767,495 | |

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At September 30, 2006, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

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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.

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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/ Duncan W. Richardson
	Duncan W. Richardson
	President and Principal Executive Officer
Date:	November 22, 2006

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/ Duncan W. Richardson
	Duncan W. Richardson
	President and Principal Executive Officer
Date:	November 22, 2006
By:	/s/ Barbara E. Campbell
	Barbara E. Campbell
	Treasurer and Principal Financial Officer
Date:	November 22, 2006

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