New York, Jan 16, 2026, 05:29 EST — Premarket
- VST gained roughly 2% in premarket, following a 6.6% rise Thursday during regular hours
- Thursday saw a surge in options volume, driven largely by heavy trading in $180 strike calls
- Traders are eyeing Vistra’s debt financing linked to its Cogentrix acquisition and watching how the stock holds at $180
Vistra Corp shares gained 2.1% to $184.03 in premarket action Friday, following a 6.6% jump to $180.18 at Thursday’s close. (StockAnalysis)
This shift stands out because utilities don’t usually behave like momentum stocks. Yet, nuclear-linked power firms have been moving that way as Big Tech locks down long-term electricity deals. Meta, which inked a similar nuclear power contract with Constellation Energy, called these agreements a move that “will make Meta one of the most significant corporate purchasers of nuclear energy in American history.” Vistra made it into the S&P 500 in 2024. (Reuters)
Last week, Vistra announced it has inked 20-year power purchase agreements to deliver over 2,600 megawatts from three nuclear plants to Meta. The electricity supply kicks off in late 2026 and scales up through 2034. CEO Jim Burke said Meta’s commitment “provides Vistra the certainty needed to invest.” Meta’s Urvi Parekh described nuclear as a “clean, reliable power” source. (Vistra Corp. Investor Relations)
Options trading surged alongside the stock, with roughly 30,526 Vistra contracts changing hands Thursday, according to Nasdaq data. The $180 strike calls expiring Feb. 20 drew particular attention. (Options give investors the right to buy or sell shares at a set price by a certain date.) (Nasdaq)
Financing plays a role here. On Jan. 12, Vistra priced a $2.25 billion private offering of senior secured notes—debt backed by collateral—and expected the deal to close by Jan. 22, pending usual conditions. The company said it will use the proceeds to help fund its Cogentrix acquisition and other corporate needs. (Vistra Corp. Investor Relations)
Investors are also zeroing in on that acquisition. Vistra struck a deal to buy Cogentrix Energy from Quantum Capital Group-managed funds for roughly $4.7 billion, Reuters reported. The purchase brings 10 natural gas-fired plants online, adding 5,500 megawatts of capacity across multiple U.S. power markets. (Reuters)
Thursday’s surge lifted the stock past $180 — the very strike that dominated call volume. Traders often fixate on these round numbers, at least until they move on.
But the setup works both ways. Premarket gains often reverse once trading kicks off, and the schedule for nuclear uprates—and any follow-up licensing—stretches out. The Cogentrix deal still needs approvals and must satisfy several conditions.
Friday’s session will focus on whether VST can stay above $180 on strong volume and if options activity remains high ahead of the Feb. 20 expiry. The next key date is Jan. 22, when Vistra aims to finalize its $2.25 billion note sale.
