Contrapositive: Given a statement of the form $$\text{If $p$, then $q$}$$The contrapositive of this statement is $$\text{If not $q$, then not $p$}$$
If you prove the contrapositive, that is first you assume that $q$ is not true, and then prove that $p$ is not true, you have proven that if $p$ is true, then $q$ is true. As if $q$ was false, then $p$ would be false.
So, in your question, let $$p=\text{$x$ and $y$ are odd integers}$$ and $$q=\text{$xy$ is odd}$$
The statement you are trying to prove is $$\text{If $p$, then $q$}$$ which when written is words is $$\text{If $x$ and $y$ are odd integers, then $xy$ is odd}$$
The contrapositive of this statement would be $$\text{If $xy$ is not odd, then either $x$ or $y$ is not odd}$$
Contradiction: A proof by contradiction is very similar to a proof by contrapositive. As in, you start both proofs by assuming that $q$ is not true. But in a proof by contrapositive, you attempt to prove that if $q$ is not true, then $p$ is also not true. In a proof by contradiction, you try to reach a contradiction under the assumption that if $p$ is true and if $q$ is false, then we get some contradiction.
In a proof by contrapositive, you are not assuming that $p$ is true, whereas in a proof by contradiction, you are assuming that $p$ is true.
So, given a statement of the form $$\text{If $p$, then $q$}$$ A proof by contradiction would start with $$\text{Suppose that $p$ is true and suppose that $q$ is false}$$ and then proceed to arrive at a contradiction. This contradiction might very well be that $q$ being false implies that $p$ is false and in which case the proof by contradiction becomes a proof by contrapositive. This case is a bit subtle though.
So, if you want to prove the statement in question by a contradiction. Then you should start your proof like $$\text{Suppose that $x$ and $y$ are odd integers and also suppose that $xy$ is not odd}$$ and then proceed to find a contradiction.