ResearchBenchmarksOption Hedging on XOP ATM (τ = 56d) 2020Q1Follow42.4Exposure Shortfall 5% (ES5%)RLOP40.2841.3442.443.46Feb 1, 2026Evaluation ResultsMethodMethodLinksExposure Shortfall 5% (ES5%)Exposure Shortfall 10% (ES10%)Shortfall ProbabilityRLOPτ=56, ndays=16τ=56, ndays=162026.0242.441.769