BUZZ-Innovation leaders' options ripe for upside bets - GS

** Options market missing upside potential of earnings growth at innovative companies, per Goldman Sachs (NYSE: GS-PB - news) ' derivative strategists

** GS strategists name Baidu Inc (Xetra: A0F5DE - news) , Mobileye (Berlin: 0ME.BE - news) , Monster Beverage Corp, and Palo Alto , to list of companies where call options appear attractive

** Strategists also name Square Inc (NYSE: SQ - news) , Edwards Lifesciences Corp, Zeltiq Aesthetics Inc (NasdaqGS: ZLTQ - news) , Northrop Grumman, as ARM Holdings (LSE: ARM.L - news) to list of companies where call options do not reflect upside potential

** Says per current estimates earnings could double in the next year on average for these companies

** GS recommends one-year call options on these 9 stocks; on average, calls are 17 pct cheaper than puts, their steepest discount in years, per GS data

** GS says probability of a significant positive return on all 9 names low, but even few names with significant upside could drive positive return in total