There have been a few headline institutional buys making the rounds lately - namely Warren Buffett's purchase of United Health (UNH) (watch here for a detailed breakdown) however the latest to make rounds has been Druckenmiller's addition of IWM Call options last quarter.

Despite the rally to record highs in stocks, hedge funds remain net short and show no signs of letting up. Here's how we are playing it.

Understanding the impact of dispersion on market breadth and the stock market.