ɪf ðə bˈɑːks ɪz fɔːɹ ɛɡzˈæmpəl twˈɛnti dˈɑːlɚz æz pɜː lˈoʊɚɹ ɛɡzˈæmpəl ɡˌɛɾɪŋ ʃˈɔːɹt ðə bˈɑːks ˈɛnɪθˌɪŋ ˌʌndɚ twˈɛnti ɪz pɹˈɑːfɪt ænd lˈɔŋ ˈɛnɪθˌɪŋ ˈoʊvɚ, hɐz hˈɛdʒd ˈɔːl ɹˈɪsk .
If the box is for example 20 dollars as per lower example getting short the box anything under 20 is profit and long anything over, has hedged all risk .