Separate from all of that, an MOV is not the best part for this job. MOVs are relatively slow in their response to a voltage spike, allowing the spike to build to a higher voltage than it would with other devices. Also, the clamping ability of an MOV decreases with each hit. A far better part is a TranZorb. This is a specially constructed zener diode (or for AC applications, two zeners back-to-back in a single package) that can handle hundreds or thousands of amps during a brief transient - repeatedly.
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