10 earnings stocks ready to rip or dip

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With the third-quarter earnings season underway, options traders are targeting a select group of stocks they believe will post sharp moves after their reports. 

So buckle up if you hold these shares. 

Based on options activity, MKM Partners' derivatives strategist Jim Strugger identified the names that could be ripe to soar or dive on earnings.

By paying attention to activity in options, traders aim to get a reading of sentiment ahead of market-moving events.