Lots of factors here but this tarp is built to be used in conjunction with the hammock so may not be the best choice. The Kelty noah's tarp however may be a better selection and has a few different sizes dependent on your needs that may work? Link here
Little late and a little over budget but there are the Kelty Noah tarps. My sister and brother in law both use them for hammocking. With all of the pullout tabs they are pretty versatile.
I would recommend this is the perfect time to upgrade to a Kelty Noah's Tarp 12 - 2013 https://www.amazon.com/dp/B009R9FUI2/ref=cm_sw_r_cp_api_pJTTAb3F5X5C2
And learn how to set it up.
Now that these are sold out, Amazon has pretty similar prices for the 12'. https://www.amazon.com/Kelty-Noahs-Tarp-12-2013/dp/B009R9FUI2
Look into Noah's Tarp by Kelty. They're pretty cheap and thin and come in 9x9, 12x12, and 16x16. Clicky!