Wells Fargo (WFC) loses 8 cents to $29.53 and options on the bank are actively traded today ahead of earnings. WFC reports Tuesday morning. 70,000 puts and 53,000 calls traded on the bank. Jan 30 calls, which are 1.6 percent OTM and expire at the end of next week, are the most actives. 20,574 traded and are possibly seeing some closing trades, as open interst is 93,167 and the second largest position in the name. Expiring Weekly and January 29 puts on the bank are also actively traded. Meanwhile, the top two trades in WFC today are part of a Feb 26 – 29 (2X1) put ratio spread, bought for 51 cents, 1520X on ISE. Data indicate a firm initiated the spread to open. It might be a bearish play on earnings. The stock has moved lower after three of the past four releases, moving an average of 5.1 percent on the day results are reported.