No chance. An open military attack would be the end of Israel. Spain is a EU and NATO member. Article 5 would be called and accepted by most NATO members. If not the alliance would be over immediately.
Lets assume the US noped out (which they would never do if Israel dared to attack Spain). That would be the end of NATO but Israel would have to deal with the EU. Even Spain by itself could cause some serious damage to Israel. And they wouldn’t be by themselves.
I’m Portuguese, and my country is the historical rival of Spain. An attack on Spain would be like a direct attack on us and most EU members feel the same.
This, of course, is hypothetical. There’s no way Netanyahu would pull such a dumb and unthinkable move.