SPY -- Roll Position Up and Out

The SPY position was rolled up and out:

Date	Description	Total	aXIRR	aROI
2008-12-26	Buy 1000 SPY @ $86.81	-$86,810.00
2008-12-26	Sell 10 SPY 12/31 $87 Call @ $1.62	$1,600.05
2008-12-31	Buyback 10 12/31 $87 Call @ $3.10	-$3,080.05
2008-12-31	Sell 10 SPY Jan 2009 $90 @ $2.70	$2,680.05
2009-01-17	Sell at end of period	$89,970.00	128.2%	83.3%

I rolled up and out both because of the increase in price to $89.97 and to avoid having the call exercised at the end of the trading day.