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Here are 5 top earnings season trade ideas from Goldman Sachs

A pedestrian passes in front of 200 West St., which houses the headquarters of Goldman Sachs Group, in New York.
Scott Eells | Bloomberg | Getty Images

Goldman Sachs told clients this is a great environment to make money trading earnings reports using options.

Companies in the moved 3.5 percent on average on their earnings day last quarter, which was 3.5 times larger than the historical average.

"We see the potential for upward earnings revisions to drive upside," Goldman's John Marshall wrote in a note to clients Tuesday.

"We favor option buying strategies as (1) the VIX is low versus history ahead of earnings, (2) we expect a seasonal pickup in volatility, and (3) earnings day moves have been increasing in size relative to other days."

Here are five companies Goldman Sachs recommends investors buy call options for ahead of third-quarter earnings reports.