<SEC-DOCUMENT>0001076598-25-000102.txt : 20250501
<SEC-HEADER>0001076598-25-000102.hdr.sgml : 20250501
<ACCEPTANCE-DATETIME>20250501124035
ACCESSION NUMBER:		0001076598-25-000102
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250501
DATE AS OF CHANGE:		20250501

FILER:

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

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-286821
		FILM NUMBER:		25901274

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		617-482-8260

	MAIL ADDRESS:	
		STREET 1:		ONE POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>etvsaisupp.htm
<DESCRIPTION>EATON VANCE TAX-MANAGED BUY-WRITE OPPORTUNITIES FUND SAI SUPPLEMENT DTD 5-1-2025
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    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Filed pursuant to Rule 424(b)(3)</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.9pt"><B>File Nos. 333-286821</B></P></TD></TR>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>EATON VANCE TAX-MANAGED BUY-WRITE OPPORTUNITIES FUND</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Supplement to Statement of Additional Information dated
April 29, 2025</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">as may be supplemented and/or revised from time to time</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following
replaces &#8220;Proxy Voting Policy.&#8221; under &#8220;Trustees and Officers&#8221;:</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="color: #202529; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Proxy Voting Policy.</B> The Board adopted a proxy voting
policy and procedures (the &#8220;Fund Policy&#8221;), pursuant to which the Board has delegated proxy voting responsibility to the Adviser
and Sub-Adviser and adopted the proxy voting policies and procedures of the Adviser and Sub-Adviser (the &#8220;Adviser Policies&#8221;).
An independent proxy voting service has been retained to assist in the voting of Fund proxies through the provision of research, execution,
recordkeeping and reporting services. The members of the Board will review the Fund&#8217;s proxy voting records from time to time and
will review annually the Adviser Policies. For a copy of the Fund Policy and the Adviser Policies, see Appendix A, B and C, respectively.
Pursuant to certain provisions of the 1940 Act relating to funds investing in other funds, a Fund may be required or may elect to vote
its interest in another fund in the same proportion as the holders of all other shares of that fund. Information on how the Fund voted
proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available (1) without charge, upon request,
by calling 1-800-262-1122, (2) on the SEC&#8217;s website at http://www.sec.gov and (3) on the Fund&#8217;s website at https://www.eatonvance.com.</P>

<P STYLE="color: #202529; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="color: #202529; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following
replaces the forty-third paragraph under &#8220;Potential Conflicts of Interest&#8221;:</B></P>

<P STYLE="color: #202529; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="color: #202529; font: 10pt Arial, Helvetica, Sans-Serif; margin: 3pt 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: #202529"><B>Investments in Morgan Stanley Funds and Other Funds.</B>&nbsp;To
the extent permitted by applicable law, a Fund may invest in a fund&nbsp;affiliated with the investment adviser or its affiliates or a
fund advised by the investment adviser or its affiliates. In connection with any such investments,&nbsp;an investing Fund, to the extent
permitted by the 1940 Act, will pay all advisory, administrative and/or Rule 12b-1 fees applicable to&nbsp;the investment. Investments
by a Fund in a fund affiliated with the investment adviser or its affiliates or a fund advised by the investment adviser or its affiliates
present potential conflicts of interest, including potential incentives to invest in smaller or newer funds to increase asset levels or
provide greater viability. The investment adviser voluntarily waives advisory fees of a Fund associated with investments by the Fund in
a fund advised by the investment adviser or its affiliates which will reduce, but will not eliminate, these types of conflicts.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0">&nbsp;</P>

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    <TD STYLE="width: 49%; padding-top: 6pt; padding-bottom: 3pt; font: 10pt NewsGoth Lt BT"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>May 1, 2025</B></FONT></TD>
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