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The options that you can use with Explorer.exe are /n, /e, /root (plus an object), and /select (plus an object).

Option Function
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/n Opens a new single-pane window for the default
selection. This is usually the root of the drive that Windows is installed on. If the window is already open, a duplicate opens.

/e Opens Windows Explorer in its default view.

/root,<object> Opens a window view of the specified object.

/select,<object> Opens a window view with the specified folder, file,
or program selected.

Examples
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Example 1: Explorer /select,C:\TestDir\TestProg.exe
Opens a window view with TestProg selected.

Example 2: Explorer /e,/root,C:\TestDir\TestProg.exe
Opens Explorer with drive C expanded and TestProg selected.

Example 3: Explorer /root,\\TestSvr\TestShare
Opens a window view of the specified share.

Example 4: Explorer /root,\\TestSvr\TestShare,select,TestProg.exe
Opens a window view of the specified share with TestProg selected.