ResearchBenchmarksOption Hedging on XOP ATM 2020Q1Option Hedging on XOP ATM 2020Q1Follow0.96Shortfall ProbabilityRLOP-2.321619.829241.9864.1308Feb 1, 2026Evaluation resultsMethodMethodLinksShortfall ProbabilityES 5%ES 10%RLOPMaturity (τ)=28d, Equa...Maturity (τ)=28d, Equal-day weighting=true, n_days=232026.020.960.6940.674BStau=14, n_days=29tau=14, n_days=292026.0283——SVtau=14, n_days=29tau=14, n_days=292026.0283——QLBStau=14, n_days=29tau=14, n_days=292026.0283——RLOPtau=14, n_days=29tau=14, n_days=292026.02—1.2010.987