Before revision:   Additionally, for a certain sub-class of models, we find an exact expression for the induced implied volatility smile. To illustrate our framework, we perform specific computations for hybrid CEV/L\'evy model (which we christen as the "C\'EV" model)  .
After revision:  Additionally, for a certain subclass of assets in our modeling framework, we derive an expansion for the implied volatility induced by our option pricing formula. The implied volatility expansion is exact within its radius of convergence. As an example of our framework, we perform specific computations for hybrid CEV/L\'evy model (which we christen as the "C\'EV" model) .