Making an object orbit around my torso using BodyPosition?

I've tried a bunch of different things and can never get the code right. The best I can get it to do is follow me around.

The following is the section of code I have so far:

me = game:GetService("Players").LocalPlayer
TO = me.Character["Torso"]

local part = Instance.new("Part", me.Character)
    part.Size = Vector3.new(3,3,3)
    part.BrickColor = BrickColor.Random()
    part.TopSurface = "Smooth"
    part.BottomSurface = "Smooth"

local gyro = Instance.new("BodyGyro", part)
    gyro.MaxTorque = Vector3.new(10000,10000,10000)

local bposition = Instance.new("BodyPosition", part)
    bposition.MaxForce = Vector3.new(10000,10000,10000)

while wait() do
    bposition.Position = TO.CFrame.p + CFrame.new(0, 5, 0).p
end