The enhanced part is strategically using covered calls to generate extra return. This is not a buy-write strategy. We will sell a covered call when we see an opportunity. It could be during a period of high volatility when option premiums are high and/or when a position has become over-extended in the short-run. We will usually only have a few options in the portfolio at a time and it is very possible that certain positions will not have call options ever written against them.