PRU A6.3.18

An Authorised Person must treat an Option or company issued Warrant on an equity, basket of equities or equity index that is eligible to be included in the equity method as a notional position in the underlying equity or equities as follows:

(a) a purchased call Option and a written put Option must be treated as a long position; and
(b) a purchased put Option and a written call Option must be treated as a short position.