By David Russell, reporter at OptionMonsterNEW YORK -- Expedia ( EXPE) reported strong results Thursday afternoon, and one investor is positioned for some major profits. OptionMonster's tracking systems detected the purchase of 10,000 January 35 calls for $2.55 and $2.60 about halfway through the session. Those contracts lock in the price investors must pay to buy the stock, so they can deliver major leverage if the shares move in the right direction. So far, so good: The online travel company reported first-quarter profit of 22 cents on revenue of $816.5 million. Analysts had expected 15 cents and $790.91 million, respectively. Expedia finished Thursday's session up 0.96% to $32.63 but was quoted at $38.74 in extended trading after the earnings report. If the gains hold this morning, those January calls will probably more than double to somewhere between $5 and $6. The stock had rallied late last year and early this year but then pulled back and found support at its 100-day moving average. It's now poised to test its previous all-time highs from early 2008. Overall option volume was 21 times greater than average in the session, with calls outnumbering puts by more than 12 to 1. Russell has no positions in EXPE.