<SEC-DOCUMENT>0000940394-24-000194.txt : 20240226
<SEC-HEADER>0000940394-24-000194.hdr.sgml : 20240226
<ACCEPTANCE-DATETIME>20240226155253
ACCESSION NUMBER:		0000940394-24-000194
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240226
DATE AS OF CHANGE:		20240226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Vance Tax-Managed Buy-Write Opportunities Fund
		CENTRAL INDEX KEY:			0001322436
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-264574
		FILM NUMBER:		24678444

	BUSINESS ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		TWO INTERNATIONAL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>etvsupp.htm
<DESCRIPTION>FEE SCHEDULE UPDATE STICKER
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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>EATON VANCE TAX-MANAGED BUY-WRITE OPPORTUNITIES FUND</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Supplement to Prospectus dated April 29, 2022, Prospectus
Supplement dated May 9, 2022, and Statement of Additional Information dated April 29, 2022, each as supplemented (respectively, the &ldquo;Prospectus&rdquo;,
the &ldquo;Prospectus Supplement&rdquo; and the &ldquo;SAI&rdquo;)</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In connection with the April 14, 2023 reorganization
of Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) (&ldquo;Acquired Fund&rdquo;) with and into Eaton Vance Tax-Managed Buy-Write
Opportunities Fund (NYSE: ETV) (the &ldquo;Fund&rdquo;), in which the Fund acquired all of the assets of the Acquired Fund in exchange
for newly-issued common shares of the Fund and the assumption by the Fund of all the liabilities of the Acquired Fund, breakpoints were
implemented in the advisory fee borne by the Fund. Accordingly, effective April 14, 2023, the following supplements any references to
the Fund&rsquo;s advisory fee rate contained in the Prospectus, Prospectus Supplement, and SAI:</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><B><I>Advisory Fee Schedule</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 64%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><I>Average Daily Gross Assets</I></FONT></TD>
    <TD STYLE="width: 36%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><I>Annual Fee Rate</I></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Up to and including $1.5 billion</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">1.000%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Over $1.5 billion up to and including $3 billion</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">0.980%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Over $3 billion up to and including $5 billion</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">0.960%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">Over $5 billion</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt">0.940%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 9pt 0 0">The Fund continues to be managed in accordance with its existing investment
objectives and strategies as described in the Prospectus and SAI.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 3pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 3pt 0; text-align: justify">February 26, 2024</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>Investors Should Retain This Supplement for Future
Reference</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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