Northrop Grumman (NOC) is beloved by Wall Street analysts who view the company's multiple government contracts as a stable revenue stream, but the stock has been in a holding pattern for the past few months and recently fell below a key level of support. Expecting to see further downside, options strategist Tony Zhang discusses how to place a bearish example options strategy in NOC by selling an out-of-the-money vertical call spread that expires Nov. 19.
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