Earnings season is among the most volatile times for short-term traders and this one will be no exception with many cult stocks expected by the options market to have double-digit percentage swings in any direction.



With this in mind, MKM Partners derivatives strategist Jim Strugger gave his best short-term earnings trade ideas in a note to clients Wednesday.



Here are the two companies he recommends and the specific options trade to use to maximize your returns.



Advanced Micro Devices (AMD)



AMD is scheduled to report its first-quarter financial results on May 1.



"Semiconductor analyst Ruben Roy thinks Q1 PC shipments point to modest year/year unit growth (per an IDC report), which would mark the first quarterly gain in five years," Strugger wrote. "This, along with Ryzen processors beginning to ship late in Q1, should provide in-line to modestly above consensus results and guidance ... Ruben likes the set up into earnings."