The earnings season has been slightly better-than-expected so far, and that has created a winning trend for options traders, according to Goldman Sachs. The bank’s derivatives research team, led by Vishal Vivek, said in a note to clients Wednesday that betting on large stocks to rise after earnings has been a profitable move in recent weeks. “Buying calls ahead of earnings for the average US stock with liquid options has returned +13% return on premium QTD. Despite the potential for outsized returns, one month implied volatility on the average S & P500 stocks has declined 4 points over the past 2 weeks to 38,” Vivek wrote. A call option is a bet that a stock will rise above a pre-set strike price before its expiration date. It gives the holder the right to buy that stock at the strike price, and the only risk to investors is that the stock falls and they lose the premium paid to buy the option. Goldman identified upcoming earnings reports where the price of options looks cheap. “Looking ahead, we recommend buying calls or replacing stock positions with call options on stocks reporting earnings, as the broad decline in options prices has made volatility buying strategies attractive,” Vivek wrote. There is a wave of health care companies reporting next week, and several of them made Goldman’s list. Medical products wholesaler McKesson reports Tuesday, followed by CVS Health and Amgen later in the week. Health care is an area of the market where many Wall Street strategists are bullish, given the sticky demand for the sector even during a recession. Amgen, for example, is up more than 17% year to date. The retail component of CVS’ business may make it a more volatile bet. The stock is down more than 9% year to date. Another name on the list that has outperformed in 2022 is EOG Resources . The energy stock has gained 50% in 2022 as oil prices remain elevated. Many Wall Street pros think the stock can rise even higher from here. EOG has a buy rating from 81% of its analysts, according to FactSet. The company will report its latest results on Nov. 3. On the other hand, a less liked stock may offer a greater return if the company reports a better-than-expected quarter. Tyson Foods , which reports Nov. 14, has a buy rating from just 33% of analysts, according to FactSet. The stock has an average post-earnings move of 5.6% over the past two years, according to Goldman. — CNBC’s Michael Bloom contributed to this report.