Vistra operates one of the nation's largest integrated retail electricity and power generation companies in the United States, serving approximately 5 million customers across 20 states and the District of Columbia. It operates a diversified portfolio encompassing over 41,000 megawatts of generation capacity, including natural gas, nuclear, coal, solar and battery energy storage systems. Headquartered in Irving, Texas, it's in competitive wholesale and retail markets, particularly in the PJM Interconnection and Ercot regions. The company has also made substantial investments — exceeding $2 billion since 2020 —in renewable energy and grid-scale battery storage, positioning it as a leader in the energy transition while maintaining a robust baseload from nuclear and gas assets. As of mid-2025
An asymmetrical 'risk reversal' options trade on this utility that's powering the AI trade

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