This spread is above the ATH. ATH break outs have been horrendous the last 18 months really. I will not even worry about spread unless NOC closes above the pink trendline of the trianlgeish pattern.
ALSO, one could consider a condor on NOC. 100/200 SMA on the daily is acting as nice support. 170/165?
Just another update on NOC.. Never exited or un-raveled spread. Happy about following my plan and being disciplined. Here's the current plan to exit if NOC breaks this price by next Friday.