EXPE – Expedia, Inc. – Options traders established bullish positions on the online travel company this morning despite the 2.2% decline in the value of its shares to an intraday low of $24.85. Investors itching for a sharp rebound in the price of the underlying stock scooped up approximately 1,700 calls at the October $27.5 strike for an average premium of $0.49 apiece. Call buyers make money if, by October expiration, shares in Expedia surge 12.6% to trade above the average breakeven price of $27.99. Bulls also picked up another 1,400 calls at the higher October $29 strike at an average premium of $0.25 each. Investors long the calls stand ready to accrue profits if shares jump 17.7% over today’s low of $24.85 to surpass the average breakeven price of $29.25 by expiration day next month. The overall reading of options implied volatility on the stock is up 12.4% at 41.12% as of 11:35 am ET.