A growing number of experimental setups in cavity optomechanics exploit periodically driven fields. However, such setups are not amenable to analysis by using simple, yet powerful, closed-form expressions of linearized optomechanics, which have provided so much of our present understanding of experimental optomechanics. In the present paper, we formulate a method to calculate quantum noise spectra in modulated optomechanical systems, which we analyze, compare, and discuss with two other recently proposed solutions: we term these (i) frequency-shifted operators, (ii) Floquet [Phys. Rev. A 94, 023803 (2016)], and (iii) iterative analysis [New J. Phys. 18, 113021 (2016)]. We prove that (i) and (ii) yield equivalent noise spectra and find that (iii) is an analytical approximation to (i) for weak modulations. We calculate the noise spectra of a doubly modulated system describing experiments of levitated particles in hybrid electro-optical traps. We show excellent agreement with Langevin stochastic simulations in the thermal regime and predict squeezing in the quantum regime. Finally, we reveal how otherwise-inaccessible spectral components of a modulated system can be measured in heterodyne detection through an appropriate choice of modulation frequencies.