Initial Transaction - SPY Call (8/24/2009)

This is part of a new strategy I am enlisting in what is essentially becoming less like a strictly covered call portfolio and more like a hedge fund. But the focus will remain substantially on covered calls. This position is an attempt to deal with an issue that affects most covered calls portfolios, which is the inability to perform as well as the overall market, when the market is rising a substantial amount (more than 4-5%) a month. I feel that the covered call portfolio has and will perform well when the market is decreasing, but it requires a little "pick me up" when the market is on a tear. In order to counter this, I have purchased 1 SPY (an ETF which tracks the S&P 500) call about 4% OTM, in order to give myself additional upside if the market continues its rise, but only risk about .33% of my total portfolio on this endeavor. If the market does not rise more than 4%, stays flat or falls, I only lose about $150. If on the other hand, the market goes up 6% in the month, I will enhance my returns. The purchase info is below:

8/24/2009 -- Bought 1 $106 SPY September Call @ 1.35