The utility sector is buzzing today, after NextEra Energy Inc (NYSE:NEE) announced the purchase of Dominion Energy Inc (NYSE:D) in an all-stock deal for roughly $67 billion. The deal will create the largest regulated electric utility in the world, a massive shakeup for the data center trade within the broader AI landscape.
NEE is down 3.9% to trade at $89.68 at last look. The shares are up 20% in the last 12 months and hit a record high of $98.75 on May 1. Pullbacks along the way have found support at the stock's ascending 80-day moving average.
D is the short-term winner, up 11% to trade at $68.62 today and on track for its largest single-session gain since March 2020. The shares are trading at three-year highs, and are 24% higher year over year.
Dominion's usually-quiet options pits are alive right now. In just the first half hour of trading, over 5,500 calls have changed hands, volume that's 34 times the average intraday amount and seven times the number of puts exchanged. The January 2027 75-strike call is the most popular, while new positions are being sold to open at the June 72.50 call.
