This is the value, as at the relevant date, in relation to the purchased commodities (excluding gold) put options covered with a long position in underlying assets, as determined in accordance with relevant prudential standards.For the purposes of this item, option positions which are partially covered should be reported only to the extent of their fully covered amount.Covered positions represent those positions which are backed by underlying assets, and are generally entered into for the purposes of hedging against movements in the value of the underlying.A bought, or purchased, put option is a put option that has been purchased by an entity. It provides the purchasing entity with the right but not the obligation to sell a specific amount of the underlying asset at a pre-agreed price, on or before a specific future date.A commodity contract is any contract that transfers the commodity price risk of an underlying commodity from one party to another.