I'm sure there are lots of good ways to do this, here's mine:
The socket needs to be of a dia. that can go around the head of the stud.
Get a short 5/16" socket head cap screw and is just longer than the 5/16" dia hole that you will drill down the center of the stud. DO NOT BREAK THROUGH. The studs are pretty hard, so use a low rpm and oil on the drill bit.
Insert the cap screw, put the socket around the "head" end of the stud and tighten the clamp, driving the stud into the socket.
A 5/16" socket head cap screw has a head dia of less than 1/2" and should be able to pass through the stud hole.
