VMS Help PRODUCT, EXTRACT, PTF, Qualifiers, /DESTINATION  *Conan The Librarian (sorry for the slow response - running on an old VAX)

       /DESTINATION=device-name:[directory-name]

    Specifies the location where the utility is to place the
    extracted product text file (PTF). If the device name is not
    provided, the default is the user's default device. If the
    directory name is omitted, or the /DESTINATION= qualifier is
    not specified, the default is the user's default directory. The
    EXTRACT PTF operation ignores the PCSI$DESTINATION logical name
    whether or not you use the /DESTINATION qualifier.